Washington Trust Bank Purchases 468 Shares of Illinois Tool Works Inc. $ITW

Washington Trust Bank increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,279 shares of the industrial products company’s stock after acquiring an additional 468 shares during the quarter. Washington Trust Bank’s holdings in Illinois Tool Works were worth $563,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ITW. Auto Owners Insurance Co boosted its position in shares of Illinois Tool Works by 55,978.4% in the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after acquiring an additional 1,427,450 shares during the period. Nuveen LLC bought a new stake in Illinois Tool Works during the first quarter valued at approximately $293,928,000. JPMorgan Chase & Co. lifted its position in Illinois Tool Works by 14.5% during the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after purchasing an additional 160,009 shares during the last quarter. Citigroup Inc. lifted its position in Illinois Tool Works by 50.5% during the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after purchasing an additional 124,443 shares during the last quarter. Finally, Aberdeen Group plc lifted its position in Illinois Tool Works by 118.7% during the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after purchasing an additional 121,141 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 0.1%

Shares of ITW opened at $245.10 on Thursday. The firm 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. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a 50 day moving average price of $256.16 and a 200-day moving average price of $252.71.

Illinois Tool Works (NYSE:ITW) last announced 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 firm had revenue of $4.06 billion during 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 business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors 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 payout ratio is presently 62.46%.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITW. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. 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, October 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. UBS Group lifted their target price 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. 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 investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price 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.