Illinois Tool Works Inc. $ITW Shares Sold by Slow Capital Inc.

Slow Capital Inc. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,555 shares of the industrial products company’s stock after selling 436 shares during the period. Slow Capital Inc.’s holdings in Illinois Tool Works were worth $3,362,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $26,000. SOA Wealth Advisors LLC. grew its position in 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 purchasing an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in Illinois Tool Works during the 1st quarter valued at approximately $29,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $30,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, 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 value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ITW. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Truist Financial lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 target price on the stock. in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $261.58.

Illinois Tool Works Trading Down 0.5%

Shares of ITW stock opened at $258.76 on Tuesday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a market cap of $75.43 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 5.75 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The stock has a 50 day simple moving average of $261.41 and a 200-day simple moving average of $251.05.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

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.