Regent Peak Wealth Advisors LLC Acquires Shares of 2,468 Illinois Tool Works Inc. $ITW

Regent Peak Wealth Advisors LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel.com reports. The firm purchased 2,468 shares of the industrial products company’s stock, valued at approximately $644,000.

A number of other institutional investors have also recently bought and sold shares of ITW. Vanguard Group Inc. grew its stake in shares of Illinois Tool Works by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after buying an additional 335,955 shares in the last quarter. State Street Corp grew its position in Illinois Tool Works by 0.9% in the second quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock worth $3,103,167,000 after acquiring an additional 108,919 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Illinois Tool Works by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Illinois Tool Works by 12.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock valued at $888,900,000 after purchasing an additional 80,527 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.0%

Shares of ITW opened at $251.95 on Friday. The stock’s 50-day moving average price is $248.32 and its 200 day moving average price is $253.89. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The firm has a market capitalization of $73.09 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 11.22 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the business posted $3.91 earnings per share. Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Ratings Changes

ITW has been the topic of several recent research reports. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their target price for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Evercore ISI cut their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Finally, Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $259.25.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.