Sather Financial Group Inc Purchases Shares of 2,318 Illinois Tool Works Inc. $ITW

Sather Financial Group Inc bought a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,318 shares of the industrial products company’s stock, valued at approximately $573,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $26,000. SOA Wealth Advisors LLC. boosted its position in shares of 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 worth $26,000 after buying an additional 50 shares during the period. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works in the first quarter worth about $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITW. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Finally, UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $262.83.

Illinois Tool Works Trading Down 1.4%

Shares of ITW opened at $244.79 on Friday. The stock has a 50-day moving average price of $261.04 and a 200 day moving average price of $250.93. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a market capitalization of $71.36 billion, a P/E ratio of 21.45, a P/E/G ratio of 5.41 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. Illinois Tool Works’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works’s payout ratio is currently 56.44%.

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.