Capital Investment Services of America Inc. Sells 2,762 Shares of Illinois Tool Works Inc. $ITW

Capital Investment Services of America Inc. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,570 shares of the industrial products company’s stock after selling 2,762 shares during the period. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $16,212,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $253.06 on Thursday. 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 company’s 50 day moving average price is $259.71 and its two-hundred day moving average price is $251.18. The company has a market capitalization of $73.77 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 5.69 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, 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 declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Truist Financial lifted their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Stifel Nicolaus increased their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Barclays boosted 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price 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.