Mountain Pacific Investment Advisers LLC Sells 240 Shares of Illinois Tool Works Inc. $ITW

Mountain Pacific Investment Advisers LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,561 shares of the industrial products company’s stock after selling 240 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Illinois Tool Works were worth $2,364,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank & Trust Co increased its position in Illinois Tool Works by 0.4% during the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after acquiring an additional 39 shares during the last quarter. Clearstead Trust LLC grew its position in Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 43 shares during the period. Northern Financial Advisors Inc increased its holdings in Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after buying an additional 44 shares during the last quarter. Aspen Investment Management Inc boosted its stake in shares of Illinois Tool Works by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company’s stock worth $1,547,000 after acquiring an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Illinois Tool Works by 3.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock valued at $355,000 after acquiring an additional 46 shares during the period. 79.77% of the stock is currently owned by institutional investors.

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 that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.3%

Illinois Tool Works stock opened at $259.89 on Thursday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm’s 50 day moving average price is $261.50 and its 200-day moving average price is $250.98. 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 cap of $75.76 billion, a P/E ratio of 22.78, a PEG ratio of 5.62 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted 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 company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. Illinois Tool Works’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on ITW shares. UBS Group raised their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Barclays lifted their price objective 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. Stifel Nicolaus increased their target price 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. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Finally, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. 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 MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $260.67.

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.