MeadowBrook Investment Advisors LLC Sells 2,802 Shares of Illinois Tool Works Inc. $ITW

MeadowBrook Investment Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 51.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,685 shares of the industrial products company’s stock after selling 2,802 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Illinois Tool Works were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ITW. Brighton Jones LLC grew its holdings in shares of 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 worth $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC grew its holdings in shares of Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after acquiring an additional 81 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Illinois Tool Works by 1.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,458 shares of the industrial products company’s stock worth $7,575,000 after acquiring an additional 469 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of Illinois Tool Works by 10.5% in the first quarter. Koshinski Asset Management Inc. now owns 3,192 shares of the industrial products company’s stock worth $792,000 after acquiring an additional 304 shares during the period. Finally, Alta Advisers Ltd lifted its position in Illinois Tool Works by 56.8% during the first quarter. Alta Advisers Ltd now owns 1,380 shares of the industrial products company’s stock valued at $342,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $241.96 on Thursday. The stock’s 50-day simple moving average is $258.37 and its 200-day simple moving average is $252.27. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a market capitalization of $70.19 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 4.16 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the business earned $3.91 earnings per share. The business’s revenue 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. As a group, analysts expect 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. Investors of record on Wednesday, December 31st will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday. 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 report on Thursday, July 31st. UBS Group lifted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research report on Monday. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $262.00.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.