Hartline Investment Corp Has $2.82 Million Stock Position in Illinois Tool Works Inc. $ITW

Hartline Investment Corp lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the second quarter, HoldingsChannel reports. The fund owned 11,404 shares of the industrial products company’s stock after selling 183 shares during the period. Hartline Investment Corp’s holdings in Illinois Tool Works were worth $2,820,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bank & Trust Co boosted its holdings in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 39 shares during the last quarter. TFG Advisers LLC boosted its holdings in shares of Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 42 shares during the last quarter. Clearstead Trust LLC boosted its holdings in shares of Illinois Tool Works by 0.9% in the 1st 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 last quarter. Northern Financial Advisors Inc boosted its holdings in shares of Illinois Tool Works by 1.9% in the 1st 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. Finally, Woodmont Investment Counsel LLC boosted its holdings in shares of Illinois Tool Works by 2.5% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock valued at $446,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.0%

ITW stock opened at $249.46 on Friday. 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 capitalization of $72.72 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.46 and a beta of 1.10. The business’s fifty day moving average price is $260.15 and its two-hundred day moving average price is $250.87. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a 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 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an “underperform” rating in a 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 report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Wells Fargo & Company raised their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Two analysts have 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, the company presently has a consensus rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works Company 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.