SG Americas Securities LLC Acquires 77,261 Shares of Illinois Tool Works Inc. $ITW

SG Americas Securities LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 724.4% during the third quarter, HoldingsChannel reports. The fund owned 87,927 shares of the industrial products company’s stock after purchasing an additional 77,261 shares during the quarter. SG Americas Securities LLC’s holdings in Illinois Tool Works were worth $22,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works in the second quarter valued at $25,000. SOA Wealth Advisors LLC. boosted its stake in Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares during the period. Corsicana & Co. purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC increased its position in shares of Illinois Tool Works by 103.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after buying an additional 63 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the second quarter worth about $31,000. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ITW shares. Barclays boosted their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Evercore ISI reduced their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Finally, Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and a consensus target price of $259.67.

Illinois Tool Works Stock Performance

NYSE ITW opened at $253.86 on Friday. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $278.13. The company has a fifty day moving average of $248.46 and a 200-day moving average of $254.33. The company has a market capitalization of $73.64 billion, a P/E ratio of 24.62, a P/E/G ratio of 10.24 and a beta of 1.15. 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 (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.09 billion. During the same quarter last year, the business posted $3.91 earnings per share. The company’s revenue for the quarter 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 research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company 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 $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.