Logan Capital Management Inc. Sells 265 Shares of Illinois Tool Works Inc. $ITW

Logan Capital Management Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,251 shares of the industrial products company’s stock after selling 265 shares during the period. Logan Capital Management Inc.’s holdings in Illinois Tool Works were worth $1,051,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Illinois Tool Works by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after buying an additional 11,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Illinois Tool Works by 0.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after purchasing an additional 13,354 shares during the last quarter. Invesco Ltd. lifted its stake in Illinois Tool Works by 4.7% during the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after purchasing an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Illinois Tool Works by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after purchasing an additional 45,316 shares during the last quarter. Finally, Amundi lifted its stake in Illinois Tool Works by 1.1% during the first quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after purchasing an additional 17,119 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITW. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on 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 Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday. Citigroup boosted their target price on 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, Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Trading Down 0.8%

NYSE ITW opened at $245.85 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 current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average of $258.77 and a 200-day moving average of $252.20. The firm has a market cap of $71.32 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.47 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. 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. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is 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.