DekaBank Deutsche Girozentrale Sells 33,488 Shares of Illinois Tool Works Inc. $ITW

DekaBank Deutsche Girozentrale decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 337,337 shares of the industrial products company’s stock after selling 33,488 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Illinois Tool Works were worth $83,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the first quarter worth about $26,000. SOA Wealth Advisors LLC. raised its holdings in 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 valued at $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $29,000. Finally, 1248 Management LLC bought a new stake in Illinois Tool Works during the 1st quarter worth approximately $30,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 1.9%

Illinois Tool Works stock opened at $257.17 on Wednesday. The firm has a market capitalization of $74.96 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 5.58 and a beta of 1.10. The firm’s fifty day moving average price is $260.00 and its two-hundred day moving average price is $251.17. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share 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 company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $2.54 EPS. 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, equities research analysts predict 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. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 56.44%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Barclays raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the company an “underperform” rating in a report 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 stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $262.83.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by insiders.

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.