Illinois Tool Works Inc. $ITW Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,941 shares of the industrial products company’s stock after selling 475 shares during the period. Cozad Asset Management Inc.’s holdings in Illinois Tool Works were worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Stevens Capital Management LP purchased a new position in Illinois Tool Works in the second quarter valued at about $284,000. AlphaCore Capital LLC grew its stake in shares of Illinois Tool Works by 245.6% in the second quarter. AlphaCore Capital LLC now owns 2,917 shares of the industrial products company’s stock valued at $720,000 after buying an additional 2,073 shares in the last quarter. Mufg Securities Americas Inc. raised its holdings in shares of Illinois Tool Works by 25.0% during the 2nd quarter. Mufg Securities Americas Inc. now owns 5,909 shares of the industrial products company’s stock valued at $1,461,000 after buying an additional 1,181 shares during the period. Journey Strategic Wealth LLC purchased a new position in Illinois Tool Works in the 2nd quarter worth approximately $363,000. Finally, Mediolanum International Funds Ltd grew its position in Illinois Tool Works by 7.8% in the second quarter. Mediolanum International Funds Ltd now owns 93,423 shares of the industrial products company’s stock valued at $23,175,000 after acquiring an additional 6,787 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction 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 owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction dated 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 directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Up 2.8%

Shares of Illinois Tool Works stock opened at $247.79 on Friday. 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 stock has a market capitalization of $71.88 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The business’s 50 day simple moving average is $251.26 and its 200-day simple moving average is $253.12.

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, topping the consensus estimate of $2.72 by $0.09. The business 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid 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 yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITW. Deutsche Bank Aktiengesellschaft upped 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 note on Thursday, October 2nd. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday, October 27th. Barclays raised their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Finally, UBS Group upped 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. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $263.77.

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.