Thoroughbred Financial Services LLC Decreases Stake in Illinois Tool Works Inc. $ITW

Thoroughbred Financial Services LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the industrial products company’s stock after selling 753 shares during the period. Thoroughbred Financial Services LLC’s holdings in Illinois Tool Works were worth $1,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Brighton Jones LLC raised its holdings in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after acquiring an additional 277 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the last quarter. Formidable Asset Management LLC acquired a new position in Illinois Tool Works in the first quarter worth about $233,000. OneAscent Family Office LLC increased its holdings in Illinois Tool Works by 91.1% in the first quarter. OneAscent Family Office LLC now owns 1,628 shares of the industrial products company’s stock valued at $404,000 after buying an additional 776 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new position in Illinois Tool Works during the 1st quarter worth approximately $351,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Barclays lifted their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. 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 note on Thursday, July 31st. Finally, Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $262.00.

Illinois Tool Works Price Performance

NYSE:ITW opened at $242.96 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. The business’s 50-day moving average price is $253.42 and its 200 day moving average price is $253.14. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The firm has a market cap of $70.48 billion, a P/E ratio of 23.66, a PEG ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Insider Buying and Selling

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% 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.