Securian Asset Management Inc. Sells 322 Shares of Illinois Tool Works Inc. $ITW

Securian Asset Management Inc. decreased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,879 shares of the industrial products company’s stock after selling 322 shares during the period. Securian Asset Management Inc.’s holdings in Illinois Tool Works were worth $3,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the 2nd quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works in the 1st quarter valued at approximately $26,000. SOA Wealth Advisors LLC. lifted its stake 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 purchasing an additional 50 shares during the last quarter. Saudi Central Bank bought a new position in Illinois Tool Works in the 1st quarter valued at approximately $29,000. Finally, 1248 Management LLC bought a new position in shares of Illinois Tool Works during the first quarter valued at $30,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.9%

ITW opened at $257.17 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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 company has a fifty day moving average of $260.00 and a 200-day moving average of $251.17. The stock has a market cap of $74.96 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 5.58 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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company posted $2.54 earnings per share. 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. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

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

Analyst Ratings Changes

ITW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target 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. Barclays raised 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. Truist Financial raised their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Citigroup raised their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus raised 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 analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.