Illinois Tool Works Inc. $ITW Shares Acquired by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,385 shares of the industrial products company’s stock after purchasing an additional 600 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Illinois Tool Works were worth $837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the second quarter worth $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. grew its position in shares of Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Truist Financial decreased their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday. Finally, UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Trading Up 0.9%

Shares of ITW stock opened at $247.85 on Tuesday. The stock has a market cap of $72.25 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 5.42 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm’s 50 day moving average price is $259.13 and its two-hundred day moving average price is $252.07.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. 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 payout ratio is presently 62.46%.

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.