Logan Capital Management Inc. Sells 265 Shares of Illinois Tool Works Inc. $ITW

Logan Capital Management Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% in the 2nd quarter, Holdings Channel reports. The fund owned 4,251 shares of the industrial products company’s stock after selling 265 shares during the quarter. Logan Capital Management Inc.’s holdings in Illinois Tool Works were worth $1,051,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Illinois Tool Works by 1.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,846 shares of the industrial products company’s stock worth $1,198,000 after acquiring an additional 50 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Illinois Tool Works by 27.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 61,052 shares of the industrial products company’s stock worth $15,095,000 after acquiring an additional 13,100 shares in the last quarter. Advisory Alpha LLC raised its position in shares of Illinois Tool Works by 39.9% in the 2nd quarter. Advisory Alpha LLC now owns 1,459 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 416 shares in the last quarter. United Capital Management of KS Inc. raised its position in shares of Illinois Tool Works by 1.6% in the 2nd quarter. United Capital Management of KS Inc. now owns 31,491 shares of the industrial products company’s stock worth $7,786,000 after acquiring an additional 491 shares in the last quarter. Finally, Guinness Asset Management LTD raised its position in shares of Illinois Tool Works by 1.5% in the 2nd quarter. Guinness Asset Management LTD now owns 835,068 shares of the industrial products company’s stock worth $206,517,000 after acquiring an additional 12,180 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ITW shares. Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, UBS Group raised their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $262.00.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction on 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 directly owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $245.85 on Wednesday. The business’s fifty day simple moving average is $258.77 and its two-hundred day simple moving average is $252.20. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a market cap of $71.32 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 5.47 and a beta of 1.10.

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

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date was Tuesday, September 30th. 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. Illinois Tool Works’s dividend payout ratio (DPR) is 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.