Prime Capital Investment Advisors LLC Has $2.67 Million Stake in Illinois Tool Works Inc. $ITW

Prime Capital Investment Advisors LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,795 shares of the industrial products company’s stock after selling 1,808 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sivia Capital Partners LLC acquired a new stake in Illinois Tool Works in the 1st quarter worth about $214,000. OneAscent Financial Services LLC raised its position in shares of Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares in the last quarter. Modern Wealth Management LLC raised its position in shares of Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at approximately $946,000. Finally, Advisory Alpha LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at approximately $259,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $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 can be accessed through this link. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Down 1.2%

Shares of Illinois Tool Works stock opened at $255.73 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year 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 firm has a market capitalization of $74.54 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 5.72 and a beta of 1.10. The firm’s 50 day moving average is $261.34 and its 200 day moving average is $251.08.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping 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 analyst estimates of $4.01 billion. During the same period in the previous year, the firm posted $2.54 EPS. 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. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 56.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Barclays lifted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two investment analysts have 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 company has an average rating of “Reduce” and an average price target of $261.58.

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.