Savvy Advisors Inc. Grows Stake in Illinois Tool Works Inc. $ITW

Savvy Advisors Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 31.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,837 shares of the industrial products company’s stock after buying an additional 683 shares during the period. Savvy Advisors Inc.’s holdings in Illinois Tool Works were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth $25,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter worth $26,000. SOA Wealth Advisors LLC. boosted its stake in shares of 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 worth $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank purchased a new position in Illinois Tool Works during the first quarter valued at $29,000. Finally, 1248 Management LLC purchased a new position in Illinois Tool Works during the first quarter valued at $30,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $244.08 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The business’s 50-day simple moving average is $257.51 and its two-hundred day simple moving average is $252.28. The stock has a market cap of $70.81 billion, a PE ratio of 23.67, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week 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 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last 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, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ITW shares. Citigroup lifted their target price 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. Barclays lifted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average 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.