1,600 Shares in Illinois Tool Works Inc. $ITW Purchased by Jacobson & Schmitt Advisors LLC

Jacobson & Schmitt Advisors LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,600 shares of the industrial products company’s stock, valued at approximately $396,000.

Other hedge funds have also recently made changes to their positions in the company. NewSquare Capital LLC raised its stake in Illinois Tool Works by 455.1% during the second quarter. NewSquare Capital LLC now owns 383 shares of the industrial products company’s stock valued at $95,000 after buying an additional 314 shares during the last quarter. Northcape Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 2.1% during the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock valued at $475,000 after acquiring an additional 40 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Illinois Tool Works in the 2nd quarter worth about $244,000. Machina Capital S.A.S. bought a new position in Illinois Tool Works in the 2nd quarter worth about $216,000. Finally, Westside Investment Management Inc. grew its position in Illinois Tool Works by 85.3% during the 2nd quarter. Westside Investment Management Inc. now owns 265 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 122 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

ITW stock opened at $244.66 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a market cap of $70.97 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock’s fifty day moving average price is $256.59 and its 200-day moving average price is $252.77.

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 analysts’ consensus estimates of $2.72 by $0.09. The company 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%.Illinois Tool Works’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. 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 currently 62.46%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a report on Tuesday, August 19th. Barclays boosted their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday, October 27th. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Finally, Citigroup increased 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. Two 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, the company presently has an average rating of “Reduce” and a consensus price target of $262.00.

Insiders Place Their Bets

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

About Illinois Tool Works

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.