Trust Co. of Vermont Sells 98 Shares of Illinois Tool Works Inc. $ITW

Trust Co. of Vermont trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 42,086 shares of the industrial products company’s stock after selling 98 shares during the quarter. Trust Co. of Vermont’s holdings in Illinois Tool Works were worth $10,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Brighton Jones LLC grew its holdings in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC grew its holdings in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the period. Two Sigma Investments LP grew its holdings in Illinois Tool Works by 23.4% during the fourth quarter. Two Sigma Investments LP now owns 6,214 shares of the industrial products company’s stock valued at $1,576,000 after purchasing an additional 1,180 shares during the period. NBC Securities Inc. bought a new position in Illinois Tool Works during the first quarter valued at $125,000. Finally, Merit Financial Group LLC grew its holdings in Illinois Tool Works by 13.9% during the first quarter. Merit Financial Group LLC now owns 9,384 shares of the industrial products company’s stock valued at $2,327,000 after purchasing an additional 1,142 shares during the period. 79.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Down 0.1%

Shares of ITW stock opened at $261.08 on Wednesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a market capitalization of $76.10 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 5.64 and a beta of 1.10. The business’s fifty day moving average is $261.57 and its 200 day moving average is $250.92.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the business posted $2.54 earnings per share. The company’s revenue for the quarter 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 research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is 52.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITW. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company raised their price target on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $260.67.

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.