Fort Washington Investment Advisors Inc. OH Sells 614 Shares of Illinois Tool Works Inc. $ITW

Fort Washington Investment Advisors Inc. OH lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 19.5% during the second quarter, HoldingsChannel reports. The firm owned 2,538 shares of the industrial products company’s stock after selling 614 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Illinois Tool Works were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Bank & Trust Co raised its stake in shares of Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 39 shares during the period. Clearstead Trust LLC raised its stake in Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after acquiring an additional 43 shares during the period. Northern Financial Advisors Inc lifted its holdings in Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 44 shares during the last quarter. Aspen Investment Management Inc boosted its position in Illinois Tool Works by 0.7% during the first quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company’s stock worth $1,547,000 after purchasing an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 46 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.43 on Tuesday. The stock has a market cap of $76.21 billion, a P/E ratio of 22.91, a PEG ratio of 5.63 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The business’s 50-day moving average price is $261.56 and its two-hundred day moving average price is $250.84. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 52.59%.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITW. UBS Group upped their price target 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. Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Barclays lifted their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $260.67.

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.