Cypress Capital LLC Takes $201,000 Position in Illinois Tool Works Inc. $ITW

Cypress Capital LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 813 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in the business. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. increased 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 during the period. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the first quarter worth approximately $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth approximately $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ITW shares. Truist Financial reduced their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a report on Monday, October 27th. Barclays lifted their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $262.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $245.47 on Monday. 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 fifty-two week low of $214.66 and a fifty-two week high of $279.13. The business has a fifty day moving average of $255.34 and a 200-day moving average of $253.00. The stock has a market cap of $71.21 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its 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 analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

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.