Courier Capital LLC Sells 92 Shares of Illinois Tool Works Inc. $ITW

Courier Capital LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 934 shares of the industrial products company’s stock after selling 92 shares during the quarter. Courier Capital LLC’s holdings in Illinois Tool Works were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Illinois Tool Works by 6.7% in the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock worth $2,066,000 after acquiring an additional 526 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Illinois Tool Works by 84.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 174,983 shares of the industrial products company’s stock worth $43,397,000 after acquiring an additional 79,872 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth about $946,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.3%

Shares of Illinois Tool Works stock opened at $247.42 on Thursday. The firm’s 50 day moving average price is $260.50 and its 200-day moving average price is $250.87. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a market cap of $72.12 billion, a P/E ratio of 21.68, a PEG ratio of 5.49 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. The company’s quarterly revenue 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. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 56.44%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Barclays raised their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Truist Financial lifted their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $262.83.

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.