Concurrent Investment Advisors LLC Acquires 313 Shares of Illinois Tool Works Inc. $ITW

Concurrent Investment Advisors LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,045 shares of the industrial products company’s stock after acquiring an additional 313 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Illinois Tool Works were worth $5,451,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Johnson Investment Counsel Inc. boosted its holdings in shares of Illinois Tool Works by 0.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 320,292 shares of the industrial products company’s stock valued at $79,192,000 after acquiring an additional 2,088 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 3.6% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 5,534 shares of the industrial products company’s stock valued at $1,368,000 after acquiring an additional 194 shares in the last quarter. Conning Inc. boosted its holdings in shares of Illinois Tool Works by 1.3% during the 2nd quarter. Conning Inc. now owns 139,470 shares of the industrial products company’s stock valued at $34,484,000 after acquiring an additional 1,784 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of Illinois Tool Works by 4.8% during the 2nd quarter. Aberdeen Group plc now owns 234,029 shares of the industrial products company’s stock valued at $57,864,000 after acquiring an additional 10,802 shares in the last quarter. Finally, Strong Tower Advisory Services boosted its holdings in shares of Illinois Tool Works by 2.6% during the 2nd quarter. Strong Tower Advisory Services now owns 12,296 shares of the industrial products company’s stock valued at $3,040,000 after acquiring an additional 306 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITW. Truist Financial raised their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a report on Wednesday. Barclays lifted their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Wells Fargo & Company lifted 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. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $262.83.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW stock opened at $244.79 on Monday. The stock has a 50-day moving average price of $261.04 and a 200-day moving average price of $250.93. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market cap of $71.36 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were 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 of this dividend was Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Illinois Tool Works Company 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.