Intellectus Partners LLC Grows Holdings in Illinois Tool Works Inc. $ITW

Intellectus Partners LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 40.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,333 shares of the industrial products company’s stock after acquiring an additional 965 shares during the period. Intellectus Partners LLC’s holdings in Illinois Tool Works were worth $829,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $25,000. SOA Wealth Advisors LLC. grew its holdings 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 valued at $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 in the first quarter valued at approximately $29,000. 1248 Management LLC acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.4%

NYSE ITW opened at $242.83 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market capitalization of $70.44 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The firm has a 50 day moving average of $257.03 and a two-hundred day moving average of $252.67.

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

Illinois Tool Works Announces Dividend

The business 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. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. 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 restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Finally, UBS Group boosted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Two 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. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $262.00.

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.