Montag A & Associates Inc. Increases Stock Holdings in Illinois Tool Works Inc. $ITW

Montag A & Associates Inc. lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 6,562 shares of the industrial products company’s stock after buying an additional 258 shares during the quarter. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $1,632,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Finally, The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a report on Monday, October 27th. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $262.00.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

NYSE ITW opened at $245.24 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The business’s 50-day moving average price is $254.59 and its 200 day moving average price is $253.06. The firm has a market cap of $71.14 billion, a P/E ratio of 23.79, a P/E/G ratio of 4.10 and a beta of 1.11.

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 for the quarter, topping the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during 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 company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last 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 research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors 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%.

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.