Crestwood Advisors Group LLC Sells 1,589 Shares of Illinois Tool Works Inc. $ITW

Crestwood Advisors Group LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the second quarter, HoldingsChannel reports. The fund owned 8,645 shares of the industrial products company’s stock after selling 1,589 shares during the period. Crestwood Advisors Group LLC’s holdings in Illinois Tool Works were worth $2,138,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Bank & Trust Co boosted its position in shares of Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after acquiring an additional 39 shares during the period. Northcape Wealth Management LLC boosted its position in shares of Illinois Tool Works by 2.1% in the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 40 shares during the period. TFG Advisers LLC boosted its position in shares of Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares during the period. Freedom Investment Management Inc. lifted its position in Illinois Tool Works by 3.0% during the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 42 shares during the period. Finally, Clearstead Trust LLC lifted its position in Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after purchasing an additional 43 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was 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 $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 0.1%

Shares of NYSE ITW opened at $245.10 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The company has a market cap of $71.10 billion, a price-to-earnings ratio of 23.77, a PEG 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 stock has a 50-day moving average price of $256.16 and a two-hundred day moving average price of $252.71.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, 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 company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. UBS Group upped 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. Barclays upped their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $262.00.

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.