Flossbach Von Storch SE Decreases Stake in Illinois Tool Works Inc. $ITW

Flossbach Von Storch SE cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,791 shares of the industrial products company’s stock after selling 10,884 shares during the period. Flossbach Von Storch SE’s holdings in Illinois Tool Works were worth $65,964,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ITW. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. lifted its holdings in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Saudi Central Bank purchased a new position in Illinois Tool Works in the first quarter worth about $29,000. 1248 Management LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Barclays raised their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Trading Up 0.5%

Shares of Illinois Tool Works stock opened at $245.47 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market capitalization of $71.21 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a fifty day moving average of $255.34 and a 200 day moving average of $252.89.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s payout ratio is currently 62.46%.

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.