Mesirow Financial Investment Management Inc. Has $8.21 Million Position in Illinois Tool Works Inc. $ITW

Mesirow Financial Investment Management Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,194 shares of the industrial products company’s stock after selling 2,212 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Illinois Tool Works were worth $8,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. UNIVEST FINANCIAL Corp grew its position in Illinois Tool Works by 12.6% during the second quarter. UNIVEST FINANCIAL Corp now owns 1,785 shares of the industrial products company’s stock worth $441,000 after buying an additional 200 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at $43,000. Strs Ohio raised its holdings in Illinois Tool Works by 9.2% in the 2nd quarter. Strs Ohio now owns 71,507 shares of the industrial products company’s stock valued at $17,680,000 after acquiring an additional 6,026 shares in the last quarter. Amalgamated Bank raised its holdings in Illinois Tool Works by 0.6% in the 2nd quarter. Amalgamated Bank now owns 57,134 shares of the industrial products company’s stock valued at $14,126,000 after acquiring an additional 360 shares in the last quarter. Finally, Savvy Advisors Inc. raised its holdings in Illinois Tool Works by 31.7% in the 2nd quarter. Savvy Advisors Inc. now owns 2,837 shares of the industrial products company’s stock valued at $701,000 after acquiring an additional 683 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

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

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $243.48 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market capitalization of $70.63 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock has a fifty day moving average of $258.02 and a 200-day moving average of $252.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the company earned $3.91 EPS. Illinois Tool Works’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. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 62.46%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ITW. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. 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. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and a consensus target price of $262.00.

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.