Klingman & Associates LLC Acquires New Shares in Illinois Tool Works Inc. $ITW

Klingman & Associates LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 859 shares of the industrial products company’s stock, valued at approximately $212,000.

Other institutional investors also recently modified their holdings of the company. OneAscent Financial Services LLC boosted its position in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC boosted its position in shares of Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $259,000. Global X Japan Co. Ltd. boosted its position in shares of Illinois Tool Works by 8.3% during the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock valued at $624,000 after buying an additional 193 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Illinois Tool Works by 17.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock valued at $4,447,000 after buying an additional 2,647 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. UBS Group raised their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their target price on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Barclays raised their target price on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Two investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $262.83.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated 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 directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was 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 currently owned by insiders.

Illinois Tool Works Stock Up 1.9%

ITW stock opened at $257.17 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve 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 stock has a market cap of $74.96 billion, a P/E ratio of 22.54, a PEG ratio of 5.58 and a beta of 1.10. The business’s 50-day moving average price is $260.00 and its 200-day moving average price is $251.17.

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, beating analysts’ consensus estimates 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 firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business’s quarterly 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. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is presently 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.