Shoker Investment Counsel Inc. Sells 290 Shares of Illinois Tool Works Inc. $ITW

Shoker Investment Counsel Inc. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,999 shares of the industrial products company’s stock after selling 290 shares during the period. Shoker Investment Counsel Inc.’s holdings in Illinois Tool Works were worth $2,473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ITW. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works in the second quarter worth about $25,000. SOA Wealth Advisors LLC. lifted its stake in shares of 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 purchasing an additional 50 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction 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 transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 1.0%

ITW stock opened at $241.42 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm’s 50-day moving average is $252.92 and its 200 day moving average is $253.16. The company has a market capitalization of $70.04 billion, a PE ratio of 23.42, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS 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 the consensus estimate of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITW. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research report on Monday, October 27th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Barclays lifted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. Finally, Stifel Nicolaus boosted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $262.00.

Illinois Tool Works 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.