Illinois Tool Works Inc. $ITW Stock Position Increased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,736 shares of the industrial products company’s stock after buying an additional 241 shares during the period. Sagespring Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth $25,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works in the 1st quarter worth $26,000. SOA Wealth Advisors LLC. raised its stake in shares of Illinois Tool Works by 90.9% in the 2nd 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 in the last quarter. Saudi Central Bank bought a new stake in shares of Illinois Tool Works in the 1st quarter worth $29,000. Finally, 1248 Management LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter worth $30,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $247.42 on Thursday. The company’s 50 day moving average price is $260.50 and its 200 day moving average price is $250.87. 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 capitalization of $72.12 billion, a PE ratio of 21.68, a PEG ratio of 5.49 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 EPS for the quarter, beating 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 period in the previous year, the firm posted $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. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was 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 in the company, 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 through the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITW. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Stifel Nicolaus boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company boosted 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. Finally, Citigroup boosted their target price 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. Two equities research 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. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Company 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.