Nicholson Wealth Management Group LLC Has $1.50 Million Stake in Illinois Tool Works Inc. $ITW

Nicholson Wealth Management Group LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,079 shares of the industrial products company’s stock after buying an additional 201 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Illinois Tool Works were worth $1,503,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bank & Trust Co grew its position in shares of Illinois Tool Works by 0.4% during the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 39 shares during the period. TFG Advisers LLC boosted its stake in Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC boosted its stake in Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the last quarter. Northern Financial Advisors Inc boosted its stake in Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the last quarter. Finally, Woodmont Investment Counsel LLC boosted its stake in Illinois Tool Works by 2.5% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $249.46 on Friday. 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 Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm’s 50 day moving average price is $260.15 and its two-hundred day moving average price is $250.87. The firm has a market cap of $72.72 billion, a P/E ratio of 21.86, a PEG ratio of 5.46 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (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 company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.54 earnings per share. The firm’s 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, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost 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 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. UBS Group lifted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Barclays lifted their price target on shares of 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. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target 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.