Illinois Tool Works Inc. $ITW Stock Holdings Lifted by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.4% during the second quarter, HoldingsChannel.com reports. The firm owned 4,736 shares of the industrial products company’s stock after buying an additional 241 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank & Trust Co grew its position in Illinois Tool Works by 0.4% during the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after acquiring an additional 39 shares during the last quarter. TFG Advisers LLC grew its position in Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC grew its position in Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the last quarter. Northern Financial Advisors Inc grew its position in Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the last quarter. Finally, Woodmont Investment Counsel LLC grew its position in Illinois Tool Works by 2.5% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.3%

NYSE:ITW opened at $247.42 on Thursday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. 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 firm has a market capitalization of $72.12 billion, a P/E ratio of 21.68, a P/E/G ratio of 5.49 and a beta of 1.10. The stock’s fifty day simple moving average is $260.50 and its 200-day simple moving average is $250.87.

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

Illinois Tool Works Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on ITW. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Truist Financial increased their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Barclays increased 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. Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Finally, Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Two equities research 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. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $262.83.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

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.