First National Bank of Mount Dora Trust Investment Services Sells 439 Shares of Illinois Tool Works Inc. $ITW

First National Bank of Mount Dora Trust Investment Services reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,747 shares of the industrial products company’s stock after selling 439 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Illinois Tool Works were worth $2,163,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the second quarter worth about $25,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works in the first quarter worth about $26,000. SOA Wealth Advisors LLC. grew its holdings in 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 purchasing an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works in the first quarter worth about $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works in the first quarter worth about $30,000. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.4%

NYSE:ITW opened at $246.75 on Friday. The company’s 50 day moving average price is $260.30 and its 200-day moving average price is $250.86. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market cap of $71.93 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 5.48 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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 analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $1.61 dividend. 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%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 56.44%.

Analysts Set New Price Targets

ITW has been the topic of a number of recent research reports. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Truist Financial upped their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, UBS Group upped their price objective 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. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

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.