PFG Advisors Grows Stock Position in Illinois Tool Works Inc. $ITW

PFG Advisors lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,840 shares of the industrial products company’s stock after purchasing an additional 1,930 shares during the period. PFG Advisors’ holdings in Illinois Tool Works were worth $2,680,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ITW. OneAscent Financial Services LLC boosted its stake in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 341 shares during the period. Modern Wealth Management LLC lifted its stake in Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Illinois Tool Works by 9.5% during the second quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after purchasing an additional 3,388 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works in the first quarter worth about $259,000. Finally, Global X Japan Co. Ltd. lifted its position in shares of Illinois Tool Works by 8.3% in the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after buying an additional 193 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $245.47 on Monday. The stock has a market cap of $71.21 billion, a PE ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a 50-day moving average price of $255.34 and a 200 day moving average price of $253.00. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

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

Illinois Tool Works Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a report on Monday, October 27th. Barclays raised their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Finally, UBS Group upped their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $262.00.

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction that occurred 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 directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate 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.