Thurston Springer Miller Herd & Titak Inc. Sells 16,711 Shares of Illinois Tool Works Inc. $ITW

Thurston Springer Miller Herd & Titak Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 92.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,276 shares of the industrial products company’s stock after selling 16,711 shares during the period. Illinois Tool Works makes up approximately 0.7% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 27th biggest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Illinois Tool Works were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works in the second quarter worth $25,000. SOA Wealth Advisors LLC. raised its holdings in shares of Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Saudi Central Bank purchased a new position in Illinois Tool Works during the 1st quarter valued at about $29,000. 1248 Management LLC bought a new position in shares of Illinois Tool Works during the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works during the first quarter valued at approximately $30,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were 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 of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $250.91 on Wednesday. The stock has a market cap of $72.79 billion, a P/E ratio of 24.34, a P/E/G ratio of 11.52 and a beta of 1.14. The firm has a fifty day moving average price of $247.76 and a 200 day moving average price of $253.72. 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 Inc. has a 1 year low of $214.66 and a 1 year high of $278.13.

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

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on ITW shares. Evercore ISI lowered their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Barclays raised their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Truist Financial cut their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $259.25.

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.