Austin Private Wealth LLC Has $325,000 Stock Position in Illinois Tool Works Inc. $ITW

Austin Private Wealth LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,314 shares of the industrial products company’s stock after buying an additional 110 shares during the quarter. Austin Private Wealth LLC’s holdings in Illinois Tool Works were worth $325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth $25,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the first quarter valued at about $26,000. SOA Wealth Advisors LLC. raised its stake in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in Illinois Tool Works in the first quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new position in Illinois Tool Works in the first quarter valued at about $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ITW shares. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a research note on Monday. Citigroup boosted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Barclays boosted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $241.96 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 quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The business’s 50-day moving average price is $258.37 and its two-hundred day moving average price is $252.27. The stock has a market cap of $70.19 billion, a PE ratio of 23.47, a P/E/G ratio of 4.16 and a beta of 1.10.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

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.