Cerro Pacific Wealth Advisors LLC Sells 125 Shares of Illinois Tool Works Inc. $ITW

Cerro Pacific Wealth Advisors LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,969 shares of the industrial products company’s stock after selling 125 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,723,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in Illinois Tool Works during the 1st quarter worth about $26,000. SOA Wealth Advisors LLC. increased its holdings in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank bought a new position in Illinois Tool Works during the 1st quarter worth about $29,000. 1248 Management LLC bought a new position in Illinois Tool Works during the 1st quarter worth about $30,000. Finally, Banque Transatlantique SA bought a new position in Illinois Tool Works during the 1st quarter worth about $30,000. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s 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 transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ITW. UBS Group increased 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. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Barclays increased their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased 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, Stifel Nicolaus increased their price objective 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. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Trading Down 1.4%

Shares of ITW stock opened at $244.79 on Friday. The firm has a 50 day moving average price of $261.04 and a two-hundred day moving average price of $250.93. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $71.36 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced 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 is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s payout ratio is 56.44%.

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.