Sachetta LLC Sells 149 Shares of Illinois Tool Works Inc. $ITW

Sachetta LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 427 shares of the industrial products company’s stock after selling 149 shares during the quarter. Sachetta LLC’s holdings in Illinois Tool Works were worth $106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS grew its stake in shares of Illinois Tool Works by 0.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 155,685 shares of the industrial products company’s stock valued at $38,692,000 after acquiring an additional 1,400 shares during the period. Seamount Financial Group Inc. lifted its holdings in Illinois Tool Works by 3.4% in the 2nd quarter. Seamount Financial Group Inc. now owns 3,488 shares of the industrial products company’s stock worth $862,000 after purchasing an additional 114 shares in the last quarter. Mraz Amerine & Associates Inc. purchased a new position in Illinois Tool Works in the 2nd quarter worth approximately $457,000. Belpointe Asset Management LLC lifted its holdings in Illinois Tool Works by 10.2% in the 2nd quarter. Belpointe Asset Management LLC now owns 3,724 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 346 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its holdings in Illinois Tool Works by 5.3% in the 2nd quarter. Confluence Wealth Services Inc. now owns 4,128 shares of the industrial products company’s stock worth $1,020,000 after purchasing an additional 207 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ITW shares. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Saturday, September 27th. Finally, Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $261.58.

Illinois Tool Works Stock Down 0.5%

Shares of ITW opened at $258.76 on Tuesday. The stock has a market capitalization of $75.43 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 5.75 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The business’s 50 day simple moving average is $261.41 and its 200-day simple moving average is $251.05. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.