Nixon Peabody Trust Co. Sells 258 Shares of Illinois Tool Works Inc. $ITW

Nixon Peabody Trust Co. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,079 shares of the industrial products company’s stock after selling 258 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Illinois Tool Works were worth $761,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ITW. Auto Owners Insurance Co raised its holdings in shares of Illinois Tool Works by 55,978.4% in the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after acquiring an additional 1,427,450 shares during the last quarter. Nuveen LLC bought a new stake in Illinois Tool Works during the 1st quarter worth approximately $293,928,000. JPMorgan Chase & Co. raised its stake in shares of Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after purchasing an additional 160,009 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Illinois Tool Works by 50.5% in the first quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock valued at $92,020,000 after purchasing an additional 124,443 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock valued at $1,670,246,000 after buying an additional 122,990 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ITW shares. Wells Fargo & Company lowered their target price 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. 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. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Truist Financial dropped their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Finally, The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a report on Monday, October 27th. Two investment 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’s stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Stock Down 0.1%

ITW stock opened at $245.28 on Friday. The stock has a 50-day simple moving average of $253.87 and a two-hundred day simple moving average of $252.95. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm has a market capitalization of $71.16 billion, a PE ratio of 23.79, a PEG ratio of 4.10 and a beta of 1.11. 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 (NYSE:ITW) last released its quarterly earnings data 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 company had revenue of $4.06 billion during 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%. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared 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 of this dividend 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 is presently 62.46%.

Insiders Place Their Bets

In related news, Director Pamela B. Strobel sold 1,521 shares of the firm’s 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 sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was 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 directly 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. Company insiders own 0.88% of the company’s stock.

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.