Welch & Forbes LLC Cuts Stock Holdings in Illinois Tool Works Inc. $ITW

Welch & Forbes LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,190 shares of the industrial products company’s stock after selling 425 shares during the period. Welch & Forbes LLC’s holdings in Illinois Tool Works were worth $5,486,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITW. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC grew its stake in Illinois Tool Works by 2.3% in the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the last quarter. Mutual Advisors LLC raised its holdings in Illinois Tool Works by 8.3% in the first quarter. Mutual Advisors LLC now owns 2,149 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 164 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Illinois Tool Works by 0.9% during the first quarter. D.A. Davidson & CO. now owns 15,632 shares of the industrial products company’s stock valued at $3,877,000 after buying an additional 137 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its position in shares of Illinois Tool Works by 11.4% during the first quarter. Strategic Blueprint LLC now owns 1,120 shares of the industrial products company’s stock valued at $278,000 after buying an additional 115 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITW. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a research report on Monday, October 27th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $262.00.

Insider Buying and Selling

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction 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 sale, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $244.08 on Monday. The business has a fifty day moving average of $257.51 and a 200 day moving average of $252.58. 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 firm has a market capitalization of $70.81 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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. 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 quarter in the previous year, the business earned $3.91 EPS. The company’s quarterly 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. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 (DPR) is currently 62.46%.

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.