Premier Path Wealth Partners LLC Sells 73 Shares of Illinois Tool Works Inc. $ITW

Premier Path Wealth Partners LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,417 shares of the industrial products company’s stock after selling 73 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Illinois Tool Works were worth $598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Auto Owners Insurance Co lifted its position in Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after buying an additional 1,427,450 shares in the last quarter. Nuveen LLC bought a new stake in Illinois Tool Works during the 1st quarter worth about $293,928,000. JPMorgan Chase & Co. lifted its position in Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock worth $313,734,000 after buying an additional 160,009 shares in the last quarter. Citigroup Inc. lifted its position in Illinois Tool Works by 50.5% during the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company’s stock worth $92,020,000 after buying an additional 124,443 shares in the last quarter. Finally, Aberdeen Group plc lifted its position in Illinois Tool Works by 118.7% during the 1st quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company’s stock worth $54,789,000 after buying an additional 121,141 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 0.6%

Shares of NYSE:ITW opened at $243.48 on Friday. The company has a market capitalization of $70.63 billion, a P/E ratio of 23.62, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The business’s 50 day simple moving average is $258.02 and its 200 day simple moving average is $252.21.

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

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. UBS Group upped their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Finally, Truist Financial dropped their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $262.00.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

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.