Stratos Wealth Partners LTD. Reduces Stock Holdings in Illinois Tool Works Inc. $ITW

Stratos Wealth Partners LTD. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,468 shares of the industrial products company’s stock after selling 867 shares during the period. Stratos Wealth Partners LTD.’s holdings in Illinois Tool Works were worth $6,297,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. lifted its position in shares of Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of Illinois Tool Works during the first quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.0%

ITW opened at $249.46 on Friday. The stock has a market cap of $72.72 billion, a PE ratio of 21.86, a P/E/G ratio of 5.46 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The business’s fifty day simple moving average is $260.15 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, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’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. As a group, research analysts expect 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 issued a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.44%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ITW shares. Deutsche Bank Aktiengesellschaft increased their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Finally, Barclays upped their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Two research 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 MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $262.83.

Insider Buying and Selling at Illinois Tool Works

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

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.