4,779 Illinois Tool Works Inc. $ITW Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.3% during the third quarter, Holdings Channel.com reports. The firm owned 94,459 shares of the industrial products company’s stock after acquiring an additional 4,779 shares during the period. Kestra Advisory Services LLC’s holdings in Illinois Tool Works were worth $24,302,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC grew its stake in shares of Illinois Tool Works by 21.5% during the second quarter. JFS Wealth Advisors LLC now owns 226 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 40 shares in the last quarter. Summit Wealth Group LLC Co. raised its stake in Illinois Tool Works by 3.4% in the third quarter. Summit Wealth Group LLC Co. now owns 1,311 shares of the industrial products company’s stock valued at $337,000 after buying an additional 43 shares in the last quarter. Cushing Capital Partners LLC raised its stake in Illinois Tool Works by 1.6% in the third quarter. Cushing Capital Partners LLC now owns 2,939 shares of the industrial products company’s stock valued at $756,000 after buying an additional 46 shares in the last quarter. MCF Advisors LLC lifted its holdings in Illinois Tool Works by 2.1% during the 2nd quarter. MCF Advisors LLC now owns 2,281 shares of the industrial products company’s stock worth $620,000 after buying an additional 48 shares during the last quarter. Finally, Lodestone Wealth Management LLC boosted its position in shares of Illinois Tool Works by 42.1% during the 3rd quarter. Lodestone Wealth Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 48 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other news, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Santi sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the completion of the sale, the director owned 266,333 shares of the company’s stock, valued at approximately $78,000,945.71. This trade represents a 18.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 101,708 shares of company stock valued at $29,546,740 over the last three months. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $280.93 on Friday. The stock’s 50-day moving average is $271.85 and its two-hundred day moving average is $271.40. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. Illinois Tool Works Inc. has a 1 year low of $238.82 and a 1 year high of $303.15. The firm has a market cap of $79.84 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.08 and a beta of 0.92.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.03. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 EPS. Analysts predict that Illinois Tool Works Inc. will post 11.49 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a $1.72 dividend. The ex-dividend date is Thursday, December 31st. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s payout ratio is currently 61.32%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $350.00 to $270.00 in a report on Friday, October 9th. UBS Group set a $277.00 price target on Illinois Tool Works in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating on the stock in a research note on Wednesday, September 30th. Citigroup cut their price objective on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating on the stock in a report on Wednesday, October 28th. Finally, Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $276.33.

Illinois Tool Works Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions.

ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.

The company serves customers across North America, Europe, Asia, and other international markets through its manufacturing and sales operations.