Roof Eidam Maycock Peralta LLC Sells 110 Shares of Illinois Tool Works Inc. $ITW

Roof Eidam Maycock Peralta LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,057 shares of the industrial products company’s stock after selling 110 shares during the period. Roof Eidam Maycock Peralta LLC’s holdings in Illinois Tool Works were worth $1,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ITW. Brighton Jones LLC increased its holdings in 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 worth $1,399,000 after purchasing an additional 277 shares in the last quarter. Bison Wealth LLC increased its holdings in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Illinois Tool Works by 6.7% in the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock valued at $2,066,000 after acquiring an additional 526 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Illinois Tool Works by 84.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 174,983 shares of the industrial products company’s stock valued at $43,397,000 after acquiring an additional 79,872 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Illinois Tool Works in the 1st quarter valued at $946,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ITW. Truist Financial lifted their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Citigroup boosted their target price 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. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Barclays boosted their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Finally, UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Stock Performance

Shares of ITW opened at $246.75 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a 50 day moving average price of $260.30 and a two-hundred day moving average price of $250.86. The firm has a market capitalization of $71.93 billion, a P/E ratio of 21.63, a P/E/G ratio of 5.48 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced 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 during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. Illinois Tool Works’s revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Insider Activity

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by insiders.

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.