Prospera Financial Services Inc Has $6.28 Million Position in Illinois Tool Works Inc. $ITW

Prospera Financial Services Inc decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,405 shares of the industrial products company’s stock after selling 917 shares during the quarter. Prospera Financial Services Inc’s holdings in Illinois Tool Works were worth $6,284,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC boosted its stake in shares of Illinois Tool Works by 2.3% in the 4th 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. Genus Capital Management Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $893,000. Fidelis Capital Partners LLC raised its stake in shares of Illinois Tool Works by 11.3% during the first quarter. Fidelis Capital Partners LLC now owns 3,558 shares of the industrial products company’s stock worth $852,000 after buying an additional 360 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Illinois Tool Works by 1.8% in the first quarter. Xponance Inc. now owns 51,741 shares of the industrial products company’s stock valued at $12,832,000 after buying an additional 905 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ITW shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. UBS Group lifted their price objective 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. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research note on Monday, October 27th. Truist Financial decreased their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average price target of $262.00.

Illinois Tool Works Trading Up 0.5%

NYSE ITW opened at $245.47 on Friday. Illinois Tool Works Inc. has a one year low of $214.66 and a one 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 cap of $71.21 billion, a P/E ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11. The stock’s 50-day moving average is $255.34 and its 200-day moving average is $252.89.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

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.