Ellevest Inc. Sells 745 Shares of Illinois Tool Works Inc. $ITW

Ellevest Inc. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,923 shares of the industrial products company’s stock after selling 745 shares during the quarter. Ellevest Inc.’s holdings in Illinois Tool Works were worth $970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Illinois Tool Works by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after buying an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after purchasing an additional 13,354 shares in the last quarter. Invesco Ltd. increased its position in shares of Illinois Tool Works by 4.7% during the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after purchasing an additional 91,359 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Illinois Tool Works by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after purchasing an additional 45,316 shares in the last quarter. Finally, Amundi increased its position in shares of Illinois Tool Works by 1.1% during the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after purchasing an additional 17,119 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Truist Financial dropped their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Up 0.6%

Shares of NYSE:ITW opened at $244.66 on Wednesday. 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 $256.59 and its two-hundred day moving average price is $252.77. 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 $70.97 billion, a P/E ratio of 23.73, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 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 firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the firm earned $3.91 EPS. The company’s 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 Dividend Announcement

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 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%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.