Schroder Investment Management Group Sells 129,605 Shares of Illinois Tool Works Inc. $ITW

Schroder Investment Management Group reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,575,118 shares of the industrial products company’s stock after selling 129,605 shares during the quarter. Schroder Investment Management Group’s holdings in Illinois Tool Works were worth $389,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Illinois Tool Works by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after acquiring an additional 335,955 shares during the period. Geode Capital Management LLC increased its stake in shares of Illinois Tool Works by 1.9% in the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares during the period. Norges Bank bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $821,888,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Illinois Tool Works by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,541,391 shares of the industrial products company’s stock worth $628,360,000 after acquiring an additional 12,558 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on 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 directly owned 10,314 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was 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.

Analysts Set New Price Targets

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group set a $258.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Finally, Truist Financial cut their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $263.77.

Illinois Tool Works Trading Up 0.1%

NYSE ITW opened at $249.23 on Friday. The stock’s fifty day moving average price is $249.76 and its 200-day moving average price is $253.19. 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 cap of $72.30 billion, a P/E ratio of 24.17, a P/E/G ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.98.

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

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Illinois Tool Works 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.