Klingman & Associates LLC Takes Position in Illinois Tool Works Inc. $ITW

Klingman & Associates LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) 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 acquired 859 shares of the industrial products company’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works in the second quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in Illinois Tool Works in the first quarter worth $26,000. SOA Wealth Advisors LLC. lifted its stake 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 acquiring an additional 50 shares during the period. Saudi Central Bank purchased a new stake in Illinois Tool Works in the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Illinois Tool Works in the first quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $257.17 on Wednesday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The business has a fifty day moving average price of $260.00 and a 200-day moving average price of $251.17. The company has a market capitalization of $74.96 billion, a PE ratio of 22.54, a PEG ratio of 5.58 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.05 billion during 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 company’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. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio is 56.44%.

Analysts Set New Price Targets

A number of analysts recently commented on ITW shares. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average 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.