Illinois Tool Works Inc. $ITW Shares Bought by Montag A & Associates Inc.

Montag A & Associates Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,562 shares of the industrial products company’s stock after acquiring an additional 258 shares during the period. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $1,632,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ITW. Frazier Financial Advisors LLC purchased a new position in Illinois Tool Works during the second quarter worth approximately $25,000. SOA Wealth Advisors LLC. raised its stake in shares of Illinois Tool Works by 90.9% during 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 period. Saudi Central Bank purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $29,000. 1248 Management LLC acquired a new stake in Illinois Tool Works in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA purchased a new stake in Illinois Tool Works in the 1st quarter worth $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Truist Financial decreased their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $262.00.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Up 0.4%

ITW opened at $245.24 on Wednesday. The firm has a market capitalization of $71.14 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company’s 50 day simple moving average is $254.59 and its two-hundred day simple moving average is $253.06. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the business earned $3.91 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. 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. Shareholders 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 2.6%. 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.