Securian Asset Management Inc. Has $3.43 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Securian Asset Management Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,879 shares of the industrial products company’s stock after selling 322 shares during the quarter. Securian Asset Management Inc.’s holdings in Illinois Tool Works were worth $3,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the second quarter valued at about $25,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $26,000. SOA Wealth Advisors LLC. grew its holdings 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 valued at $26,000 after buying an additional 50 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new position in shares of Illinois Tool Works during the first quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Truist Financial boosted their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. UBS Group boosted 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, Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. 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 company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $257.17 on Wednesday. The firm has a market cap of $74.96 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 5.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm’s 50-day simple moving average is $260.00 and its two-hundred day simple moving average is $251.17.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $1.61 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s payout ratio is presently 56.44%.

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.