Windle Wealth LLC Acquires 1,073 Shares of Illinois Tool Works Inc. $ITW

Windle Wealth LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,793 shares of the industrial products company’s stock after purchasing an additional 1,073 shares during the quarter. Illinois Tool Works makes up approximately 3.5% of Windle Wealth LLC’s holdings, making the stock its 21st biggest position. Windle Wealth LLC’s holdings in Illinois Tool Works were worth $7,119,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. raised 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 buying an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works during the 1st quarter valued at $29,000. 1248 Management LLC purchased a new stake in Illinois Tool Works during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new stake in Illinois Tool Works during the 1st quarter valued at $30,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup increased their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Truist Financial increased their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company increased their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $262.83.

Illinois Tool Works Price Performance

ITW opened at $252.91 on Thursday. 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 business’s fifty day simple moving average is $261.33 and its 200-day simple moving average is $251.09. The company has a market capitalization of $73.72 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.65 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $2.54 earnings per share. The firm’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. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 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.