Strong Tower Advisory Services Buys 306 Shares of Illinois Tool Works Inc. $ITW

Strong Tower Advisory Services grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,296 shares of the industrial products company’s stock after acquiring an additional 306 shares during the period. Strong Tower Advisory Services’ holdings in Illinois Tool Works were worth $3,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $26,000. SOA Wealth Advisors LLC. raised its stake 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 worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank bought a new position in Illinois Tool Works in the first quarter worth approximately $29,000. 1248 Management LLC bought a new position in Illinois Tool Works in the first quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new position in Illinois Tool Works in the first quarter worth approximately $30,000. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other 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 directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $244.79 on Friday. The firm’s fifty day simple moving average is $261.04 and its two-hundred day simple moving average is $250.97. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market capitalization of $71.36 billion, a P/E ratio of 21.45, a P/E/G ratio of 5.49 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ITW shares. Truist Financial boosted their price objective on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $262.83.

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.