Lockheed Martin Investment Management Co. Reduces Stock Holdings in Illinois Tool Works Inc. $ITW

Lockheed Martin Investment Management Co. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,420 shares of the industrial products company’s stock after selling 1,450 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Illinois Tool Works were worth $8,510,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $25,000. von Borstel & Associates Inc. purchased a new stake in Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. boosted its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank purchased a new stake in Illinois Tool Works during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works during the first quarter worth $30,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday. Citigroup increased their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Barclays increased their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $243.48 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The company has a fifty day moving average of $258.02 and a two-hundred day moving average of $252.21. The stock has a market capitalization of $70.63 billion, a PE ratio of 23.62, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by company insiders.

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.