J. Safra Sarasin Holding AG Has $58.56 Million Holdings in Illinois Tool Works Inc. $ITW

J. Safra Sarasin Holding AG trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 236,852 shares of the industrial products company’s stock after selling 3,789 shares during the period. J. Safra Sarasin Holding AG’s holdings in Illinois Tool Works were worth $58,562,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITW. Brighton Jones LLC lifted its stake 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 valued at $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC raised its holdings in shares of Illinois Tool Works by 2.3% in the 4th 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 last quarter. Two Sigma Investments LP lifted its position in Illinois Tool Works by 23.4% in the 4th quarter. Two Sigma Investments LP now owns 6,214 shares of the industrial products company’s stock valued at $1,576,000 after acquiring an additional 1,180 shares in the last quarter. NBC Securities Inc. acquired a new position in Illinois Tool Works during the 1st quarter valued at about $125,000. Finally, Merit Financial Group LLC increased its holdings in Illinois Tool Works by 13.9% during the 1st quarter. Merit Financial Group LLC now owns 9,384 shares of the industrial products company’s stock worth $2,327,000 after purchasing an additional 1,142 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.3%

Shares of NYSE ITW opened at $259.89 on Thursday. 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 market capitalization of $75.76 billion, a PE ratio of 22.78, a P/E/G ratio of 5.62 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business’s fifty day moving average price is $261.50 and its 200-day moving average price is $250.98.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s payout ratio is 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction 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 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 SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ITW shares. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective on the stock. in a research report on Thursday, July 31st. Barclays raised their target price on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $260.67.

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.