Vanguard Group Inc. Raises Stock Position in Illinois Tool Works Inc. $ITW

Vanguard Group Inc. lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 26,723,774 shares of the industrial products company’s stock after buying an additional 335,955 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Illinois Tool Works worth $6,607,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works during the second quarter worth $25,000. SOA Wealth Advisors LLC. increased its position 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 buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works during the 1st quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter worth about $30,000. Finally, Banque Transatlantique SA acquired a new stake in Illinois Tool Works in the 1st quarter valued at about $30,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ITW shares. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Finally, Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $264.69.

Insider Transactions at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’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 completion of the sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.2%

Shares of ITW opened at $241.90 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market capitalization of $70.18 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The stock has a fifty day moving average of $252.52 and a two-hundred day moving average of $253.16. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.7%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

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.