Kathmere Capital Management LLC Trims Stake in Illinois Tool Works Inc. $ITW

Kathmere Capital Management LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,199 shares of the industrial products company’s stock after selling 634 shares during the period. Kathmere Capital Management LLC’s holdings in Illinois Tool Works were worth $1,285,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ITW. GAMMA Investing LLC grew its position in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock valued at $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Auto Owners Insurance Co grew its position in shares of Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after purchasing an additional 1,427,450 shares in the last quarter. Nuveen LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $293,928,000. JPMorgan Chase & Co. lifted its holdings in shares of Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after acquiring an additional 160,009 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Illinois Tool Works by 50.5% during the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after acquiring an additional 124,443 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ITW shares. Citigroup lifted their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. UBS Group lifted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Finally, Truist Financial downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $261.32 on Friday. The firm has a fifty day simple moving average of $261.42 and a two-hundred day simple moving average of $250.80. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a market capitalization of $76.17 billion, a PE ratio of 22.90, a P/E/G ratio of 5.56 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

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

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $1.61 dividend. 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 dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is presently 52.59%.

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.