Illinois Tool Works Inc. $ITW Shares Purchased by Angeles Wealth Management LLC

Angeles Wealth Management LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,577 shares of the industrial products company’s stock after acquiring an additional 225 shares during the period. Angeles Wealth Management LLC’s holdings in Illinois Tool Works were worth $390,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ITW. OneAscent Financial Services LLC increased its holdings in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 341 shares during the period. Modern Wealth Management LLC increased its holdings in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the period. Advisory Alpha LLC purchased a new stake in Illinois Tool Works during the 1st quarter worth about $259,000. Global X Japan Co. Ltd. increased its holdings in Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 193 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Illinois Tool Works by 17.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after purchasing an additional 2,647 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 1.0%

NYSE:ITW opened at $249.46 on Friday. The stock’s 50 day moving average price is $260.15 and its 200 day moving average price is $250.87. The company has a market capitalization of $72.72 billion, a PE ratio of 21.86, a P/E/G ratio of 5.46 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 Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is 56.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup upped their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Wells Fargo & Company increased their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Truist Financial increased their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Barclays increased their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $262.83.

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.