Sage Mountain Advisors LLC Sells 278 Shares of Illinois Tool Works Inc. $ITW

Sage Mountain Advisors LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,451 shares of the industrial products company’s stock after selling 278 shares during the period. Sage Mountain Advisors LLC’s holdings in Illinois Tool Works were worth $606,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITW. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works during the 1st quarter valued at about $26,000. SOA Wealth Advisors LLC. boosted its position in Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the period. Saudi Central Bank purchased a new position in shares of Illinois Tool Works during the first quarter worth approximately $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 4.5%

Shares of NYSE:ITW opened at $245.91 on Friday. The business’s 50-day moving average is $259.36 and its 200 day moving average is $251.86. 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 Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a market capitalization of $71.68 billion, a P/E ratio of 23.85, a P/E/G ratio of 5.44 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. Truist Financial upped their target price on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. 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 research note on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

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.