Illinois Tool Works Inc. $ITW Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,179 shares of the industrial products company’s stock after selling 520 shares during the quarter. NorthRock Partners LLC’s holdings in Illinois Tool Works were worth $2,781,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock valued at $627,176,000 after purchasing an additional 11,854 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Illinois Tool Works by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after acquiring an additional 13,354 shares in the last quarter. Invesco Ltd. grew its position in shares of Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after acquiring an additional 91,359 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after acquiring an additional 45,316 shares in the last quarter. Finally, Amundi grew its position in shares of Illinois Tool Works by 1.1% in the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after acquiring an additional 17,119 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.4%

Shares of NYSE ITW opened at $244.79 on Monday. The stock’s 50 day simple moving average is $261.04 and its 200 day simple moving average is $250.93. 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 company has a market cap of $71.36 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

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

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were 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 was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ITW shares. 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 research report on Thursday, July 31st. 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 research report on Thursday, July 31st. 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 research report on Thursday, October 2nd. Citigroup raised their price target on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Truist Financial raised their price target on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday. 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, the company currently has an average rating of “Reduce” and an average target price of $262.83.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 sale, the chief accounting officer 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

About Illinois Tool Works

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.