Aries Wealth Management Sells 211 Shares of Illinois Tool Works Inc. $ITW

Aries Wealth Management lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 6,099 shares of the industrial products company’s stock after selling 211 shares during the period. Aries Wealth Management’s holdings in Illinois Tool Works were worth $1,508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Auto Owners Insurance Co increased its stake in shares of Illinois Tool Works by 55,978.4% in the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock valued at $354,654,000 after buying an additional 1,427,450 shares during the period. Nuveen LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $293,928,000. JPMorgan Chase & Co. increased its stake in shares of Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after buying an additional 160,009 shares during the period. Citigroup Inc. increased its stake in shares of Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after buying an additional 124,443 shares during the period. Finally, Aberdeen Group plc increased its stake in shares of Illinois Tool Works by 118.7% in the first quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock valued at $54,789,000 after buying an additional 121,141 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ITW shares. Wells Fargo & Company upped their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Barclays upped their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Finally, Citigroup upped their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued 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 $262.83.

Insider Activity

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $248.20 on Wednesday. The business’s 50 day simple moving average is $260.70 and its 200 day simple moving average is $250.90. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a market capitalization of $72.35 billion, a PE ratio of 21.75, a PEG ratio of 5.41 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

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

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) 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.