West Michigan Advisors LLC Boosts Stock Holdings in Illinois Tool Works Inc. $ITW

West Michigan Advisors LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 881 shares of the industrial products company’s stock after purchasing an additional 56 shares during the period. West Michigan Advisors LLC’s holdings in Illinois Tool Works were worth $219,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ITW. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works during the second quarter worth approximately $25,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at $26,000. SOA Wealth Advisors LLC. raised its stake in shares of Illinois Tool Works by 90.9% in 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 shares of Illinois Tool Works in the 1st quarter valued at $29,000. Finally, 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ITW. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target 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 target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Finally, Barclays lifted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $262.83.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The shares were 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $245.91 on Friday. The firm has a market cap of $71.68 billion, a P/E ratio of 21.55, a P/E/G ratio of 5.70 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The firm has a fifty day moving average of $259.36 and a two-hundred day moving average of $251.63.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business earned $3.91 EPS. The firm’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. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

Illinois Tool Works 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.