Childress Capital Advisors LLC Buys 617 Shares of Illinois Tool Works Inc. $ITW

Childress Capital Advisors LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 37.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,250 shares of the industrial products company’s stock after purchasing an additional 617 shares during the quarter. Childress Capital Advisors LLC’s holdings in Illinois Tool Works were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITW. Brighton Jones LLC raised its stake in shares of Illinois Tool Works by 5.3% during the 4th 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 raised its stake in shares of Illinois Tool Works by 2.3% during the 4th 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 raised its stake in shares of Illinois Tool Works by 23.4% during the 4th 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. purchased a new position in Illinois Tool Works during the first quarter worth about $125,000. Finally, Merit Financial Group LLC grew its position 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 worth $2,327,000 after buying an additional 1,142 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ITW shares. Citigroup boosted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Stifel Nicolaus boosted their target price 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. Barclays boosted their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price for the company. in a research report on Thursday, July 31st. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $260.67.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the 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 completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

ITW opened at $261.08 on Wednesday. The stock has a 50-day moving average price of $261.57 and a 200-day moving average price of $250.92. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $76.10 billion, a P/E ratio of 22.88, a PEG ratio of 5.64 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.59%.

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.