Illinois Tool Works Inc. $ITW Shares Sold by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,570 shares of the industrial products company’s stock after selling 2,762 shares during the period. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $16,212,000 at the end of the most recent quarter.

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

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITW. Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Weiss Ratings reiterated 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 stock an “underweight” rating in a research report on Thursday, July 31st. Finally, Citigroup lifted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $262.83.

Illinois Tool Works Trading Down 1.6%

Shares of NYSE:ITW opened at $253.06 on Thursday. 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 capitalization of $73.77 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 5.69 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a 50 day moving average price of $259.71 and a 200 day moving average price of $251.18.

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

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend 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 annualized dividend and a yield of 2.5%. Illinois Tool Works’s payout ratio is presently 56.44%.

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.