Illinois Tool Works Inc. $ITW Position Increased by Howard Capital Management Inc.

Howard Capital Management Inc. raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,941 shares of the industrial products company’s stock after buying an additional 252 shares during the quarter. Howard Capital Management Inc.’s holdings in Illinois Tool Works were worth $483,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. OneAscent Financial Services LLC raised its holdings in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC raised its stake in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 65 shares in the last quarter. Nordea Investment Management AB raised its stake in Illinois Tool Works by 9.5% during the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after acquiring an additional 3,388 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at about $259,000. Finally, Global X Japan Co. Ltd. raised its stake in shares of Illinois Tool Works by 8.3% during the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock valued at $624,000 after purchasing an additional 193 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $241.96 on Thursday. The stock has a fifty day moving average of $258.37 and a 200-day moving average of $252.27. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market capitalization of $70.19 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.7%. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ITW shares. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a report on Monday. Finally, Truist Financial dropped their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $262.00.

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.