Illinois Tool Works Inc. $ITW Position Lessened by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,568 shares of the industrial products company’s stock after selling 7,682 shares during the period. Guggenheim Capital LLC’s holdings in Illinois Tool Works were worth $14,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ITW. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $25,000. SOA Wealth Advisors LLC. raised its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank acquired a new stake in Illinois Tool Works in the first quarter worth approximately $29,000. 1248 Management LLC bought a new position in Illinois Tool Works during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new position in shares of Illinois Tool Works during the 1st quarter valued at $30,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.3%

NYSE ITW opened at $249.37 on Friday. The firm’s 50 day moving average price is $248.88 and its two-hundred day moving average price is $253.20. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $278.20. The stock has a market cap of $72.34 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 11.14 and a beta of 1.14.

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. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the company earned $3.91 earnings per share. 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. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm 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 dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Insider Transactions 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 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 transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Monday, October 27th. Evercore ISI dropped their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their target price for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, 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 report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $263.77.

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.