Spinnaker Trust Has $1.04 Million Stock Position in Illinois Tool Works Inc. $ITW

Spinnaker Trust cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,203 shares of the industrial products company’s stock after selling 518 shares during the quarter. Spinnaker Trust’s holdings in Illinois Tool Works were worth $1,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its position in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC grew its position in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Illinois Tool Works by 1.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,458 shares of the industrial products company’s stock valued at $7,575,000 after acquiring an additional 469 shares during the period. Koshinski Asset Management Inc. raised its holdings in Illinois Tool Works by 10.5% in the 1st quarter. Koshinski Asset Management Inc. now owns 3,192 shares of the industrial products company’s stock valued at $792,000 after acquiring an additional 304 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Illinois Tool Works by 3.9% in the 1st quarter. Vontobel Holding Ltd. now owns 34,204 shares of the industrial products company’s stock worth $8,483,000 after acquiring an additional 1,281 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITW. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a research report on Monday. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Barclays lifted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research 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 research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $262.00.

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 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 completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Up 0.6%

Shares of NYSE:ITW opened at $243.48 on Friday. 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 firm has a market cap of $70.63 billion, a P/E ratio of 23.62, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company’s 50-day moving average price is $258.02 and its two-hundred day moving average price is $252.21.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business earned $3.91 earnings per share. Illinois Tool Works’s quarterly revenue 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, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

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.