Tred Avon Family Wealth LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Tred Avon Family Wealth LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,968 shares of the industrial products company’s stock, valued at approximately $774,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 1.3% in the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after purchasing an additional 335,955 shares during the period. State Street Corp raised its holdings in Illinois Tool Works by 0.9% during the 2nd quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock valued at $3,103,167,000 after acquiring an additional 108,919 shares during the period. Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after acquiring an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after acquiring an additional 415,982 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Illinois Tool Works by 2.3% in the second quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock valued at $888,900,000 after purchasing an additional 80,527 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ITW shares. Evercore ISI cut their target price on 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. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Wolfe Research increased their target price on shares of Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research note on Thursday. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. Finally, Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $261.08.

Illinois Tool Works Stock Up 0.6%

ITW opened at $263.56 on Friday. The business’s fifty day simple moving average is $250.14 and its 200 day simple moving average is $254.83. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock has a market cap of $76.46 billion, a PE ratio of 25.56, a P/E/G ratio of 14.16 and a beta of 1.15.

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 (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.