Nixon Peabody Trust Co. Cuts Stake in Illinois Tool Works Inc. $ITW

Nixon Peabody Trust Co. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,079 shares of the industrial products company’s stock after selling 258 shares during the period. Nixon Peabody Trust Co.’s holdings in Illinois Tool Works were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $25,000. SOA Wealth Advisors LLC. increased its stake in Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank bought a new stake in Illinois Tool Works in the first quarter valued at approximately $29,000. 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $30,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $245.28 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The stock has a market cap of $71.16 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 4.10 and a beta of 1.11. The stock’s 50 day simple moving average is $253.87 and its two-hundred day simple moving average is $252.95. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

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 company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 paid 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 dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Robert W. Baird set a $265.00 price objective on shares of Illinois Tool Works in a research note on Monday, October 27th. Barclays increased their target price 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. Truist Financial reduced their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, The Goldman Sachs Group set a $258.00 price objective on Illinois Tool Works in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $262.00.

Insider Activity at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’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 transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works 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.