Hartline Investment Corp Has $2.82 Million Holdings in Illinois Tool Works Inc. $ITW

Hartline Investment Corp cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,404 shares of the industrial products company’s stock after selling 183 shares during the period. Hartline Investment Corp’s holdings in Illinois Tool Works were worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after purchasing an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock valued at $513,994,000 after purchasing an additional 13,354 shares during the period. Invesco Ltd. increased its stake in shares of Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock valued at $504,683,000 after acquiring an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock valued at $435,508,000 after acquiring an additional 45,316 shares during the last quarter. Finally, Amundi increased its stake in shares of Illinois Tool Works by 1.1% in the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock valued at $383,828,000 after acquiring an additional 17,119 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $249.46 on Friday. The business has a 50 day simple moving average of $260.15 and a 200 day simple moving average of $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 debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market cap of $72.72 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.46 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the business earned $2.54 EPS. 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. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ITW. Truist Financial upped their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target 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. Finally, Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Two 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target 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.