Verdence Capital Advisors LLC Buys 91 Shares of Illinois Tool Works Inc. $ITW

Verdence Capital Advisors LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,675 shares of the industrial products company’s stock after purchasing an additional 91 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Illinois Tool Works were worth $1,650,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in Illinois Tool Works during the 1st quarter valued at $26,000. SOA Wealth Advisors LLC. boosted its holdings in Illinois Tool Works by 90.9% during the 2nd 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 during the period. Saudi Central Bank purchased a new position in Illinois Tool Works during the 1st quarter valued at $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ITW shares. UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Truist Financial upped their target price on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Trading Down 0.1%

ITW opened at $244.59 on Tuesday. The firm has a market cap of $71.30 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 5.41 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a fifty day moving average price of $260.86 and a 200-day moving average price of $250.92.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.