Connor Clark & Lunn Investment Management Ltd. Has $4.49 Million Stock Position in Illinois Tool Works Inc. $ITW

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 67.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,176 shares of the industrial products company’s stock after selling 38,408 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Illinois Tool Works were worth $4,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OneAscent Financial Services LLC raised its holdings in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after buying an additional 341 shares during the period. Modern Wealth Management LLC boosted its holdings in Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Nordea Investment Management AB grew its position in Illinois Tool Works by 9.5% in the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after purchasing an additional 3,388 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Illinois Tool Works by 17.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after buying an additional 2,647 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at about $259,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. UBS Group raised 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 note on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Finally, Barclays upped their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Down 0.1%

ITW stock opened at $245.28 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $71.16 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 4.10 and a beta of 1.11. The business’s fifty day moving average price is $253.87 and its two-hundred day moving average price is $252.95.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the company posted $3.91 earnings per share. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 issued a dividend of $1.61 per share. 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 (DPR) is currently 62.46%.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.