Segment Wealth Management LLC Sells 78 Shares of Illinois Tool Works Inc. $ITW

Segment Wealth Management LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,471 shares of the industrial products company’s stock after selling 78 shares during the quarter. Segment Wealth Management LLC’s holdings in Illinois Tool Works were worth $858,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Precedent Wealth Partners LLC increased its holdings in shares of Illinois Tool Works by 22.6% during the 2nd quarter. Precedent Wealth Partners LLC now owns 5,428 shares of the industrial products company’s stock worth $1,342,000 after purchasing an additional 1,000 shares during the period. Stock Yards Bank & Trust Co. increased its stake in Illinois Tool Works by 2.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 18,030 shares of the industrial products company’s stock valued at $4,458,000 after acquiring an additional 461 shares during the period. Mattern Capital Management LLC increased its stake in Illinois Tool Works by 1.5% in the second quarter. Mattern Capital Management LLC now owns 35,092 shares of the industrial products company’s stock valued at $8,676,000 after acquiring an additional 535 shares during the period. Hilltop National Bank bought a new stake in Illinois Tool Works in the second quarter valued at about $829,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Illinois Tool Works by 7.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,477 shares of the industrial products company’s stock valued at $10,997,000 after acquiring an additional 2,920 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a research note on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Saturday, September 27th. Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $261.58.

Illinois Tool Works Price Performance

NYSE:ITW opened at $260.19 on Friday. The firm has a market cap of $75.85 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 5.61 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The company’s 50-day moving average price is $261.43 and its two-hundred day moving average price is $251.01.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $2.54 earnings per share. Illinois Tool Works’s quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS 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 is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Illinois Tool Works Company Profile

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.