Illinois Tool Works Inc. $ITW Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 14.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 453 shares of the industrial products company’s stock after selling 74 shares during the period. Catalyst Capital Advisors LLC’s holdings in Illinois Tool Works were worth $112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bank & Trust Co lifted its holdings in 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 purchasing an additional 39 shares in the last quarter. TFG Advisers LLC lifted its holdings in shares of Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 42 shares during the period. Freedom Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 42 shares during the period. Clearstead Trust LLC lifted its holdings in shares of Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the period. Finally, Northern Financial Advisors Inc lifted its holdings in shares of Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 44 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 4.5%

ITW opened at $245.91 on Friday. 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 1 year low of $214.66 and a 1 year high of $279.13. The firm has a 50 day moving average price of $259.36 and a 200 day moving average price of $251.86. The company has a market cap of $71.68 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company earned $3.91 earnings per share. Illinois Tool Works’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts expect 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 $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the 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 completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ITW has been the topic of several recent analyst reports. Truist Financial increased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus increased their price objective 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. UBS Group increased their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, Citigroup increased their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. 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 data from MarketBeat, the company has an average rating of “Reduce” and a consensus 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.