Illinois Tool Works Inc. $ITW Shares Sold by First National Bank & Trust Co. of Newtown

First National Bank & Trust Co. of Newtown reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,804 shares of the industrial products company’s stock after selling 60 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Illinois Tool Works were worth $446,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ITW. TFG Advisers LLC lifted its holdings in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 42 shares during the period. ASR Vermogensbeheer N.V. grew its holdings in Illinois Tool Works by 3.2% during the second quarter. ASR Vermogensbeheer N.V. now owns 53,596 shares of the industrial products company’s stock valued at $13,251,000 after purchasing an additional 1,682 shares during the last quarter. McGuire Investment Group LLC boosted its position in shares of Illinois Tool Works by 0.9% in the second quarter. McGuire Investment Group LLC now owns 43,646 shares of the industrial products company’s stock valued at $10,791,000 after acquiring an additional 397 shares during the period. RKL Wealth Management LLC lifted its position in Illinois Tool Works by 3.5% in the second quarter. RKL Wealth Management LLC now owns 7,747 shares of the industrial products company’s stock worth $1,915,000 after purchasing an additional 260 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $259.89 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The stock has a fifty day moving average of $261.50 and a 200-day moving average of $250.98. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market cap of $75.76 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 5.62 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $2.54 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was 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 owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on ITW shares. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a research note on Thursday, July 31st. Stifel Nicolaus upped their price objective 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. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Finally, Barclays upped their target price 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. One 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. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average target price of $260.67.

About Illinois Tool Works

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.