Wealthfront Advisers LLC Boosts Stake in Illinois Tool Works Inc. $ITW

Wealthfront Advisers LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,829 shares of the industrial products company’s stock after buying an additional 1,859 shares during the period. Wealthfront Advisers LLC’s holdings in Illinois Tool Works were worth $9,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OneAscent Financial Services LLC lifted its stake in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after buying an additional 341 shares in the last quarter. Modern Wealth Management LLC increased its position in Illinois Tool Works by 8.3% during the first 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 last quarter. Nordea Investment Management AB increased its position in Illinois Tool Works by 9.5% during the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock worth $9,605,000 after purchasing an additional 3,388 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Illinois Tool Works during the first quarter worth about $259,000. Finally, Global X Japan Co. Ltd. increased its position in Illinois Tool Works by 8.3% during the second 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 last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’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 value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 4.5%

NYSE ITW opened at $245.91 on Monday. The firm has a 50 day simple moving average of $259.36 and a 200-day simple moving average of $251.98. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The firm has a market cap of $71.68 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 5.42 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the firm posted $3.91 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is 62.46%.

Analysts Set New Price Targets

ITW has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. UBS Group raised their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. 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 research report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $262.83.

About Illinois Tool Works

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.