OneAscent Family Office LLC Sells 760 Shares of Illinois Tool Works Inc. $ITW

OneAscent Family Office LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 46.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 868 shares of the industrial products company’s stock after selling 760 shares during the quarter. OneAscent Family Office LLC’s holdings in Illinois Tool Works were worth $215,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the second quarter worth about $25,000. SOA Wealth Advisors LLC. boosted 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 acquiring an additional 50 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the 1st quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the 1st quarter valued at about $30,000. 79.77% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Barclays raised their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Truist Financial reduced their price target 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, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $245.10 on Thursday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. 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’s fifty day moving average price is $256.16 and its 200 day moving average price is $252.71. The company has a market capitalization of $71.10 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.