Illinois Tool Works Inc. $ITW Shares Acquired by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 111.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,276 shares of the industrial products company’s stock after acquiring an additional 8,569 shares during the quarter. Huntleigh Advisors Inc.’s holdings in Illinois Tool Works were worth $4,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $25,000. SOA Wealth Advisors LLC. increased its holdings in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Corsicana & Co. acquired a new stake in Illinois Tool Works in the third quarter valued at $26,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after buying an additional 63 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial cut their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Barclays increased 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 boosted their price target 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. Finally, Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Stock Down 3.4%

Shares of NYSE:ITW opened at $254.43 on Wednesday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $278.13. 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 cap of $73.81 billion, a P/E ratio of 24.68, a P/E/G ratio of 14.16 and a beta of 1.15. The firm has a fifty day moving average price of $250.71 and a 200 day moving average price of $254.83.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the company earned $3.91 earnings per share. The business’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. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.

About Illinois Tool Works

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.