Illinois Tool Works Inc. $ITW Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,666 shares of the industrial products company’s stock after purchasing an additional 1,255 shares during the quarter. SG Americas Securities LLC’s holdings in Illinois Tool Works were worth $2,637,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OneAscent Financial Services LLC lifted its position in shares of Illinois Tool Works by 25.8% during 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 last quarter. Modern Wealth Management LLC raised its stake in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Illinois Tool Works by 39.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after buying an additional 19,102 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Illinois Tool Works by 17.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after acquiring an additional 2,647 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Illinois Tool Works by 9.5% in the 2nd quarter. Nordea Investment Management AB now owns 38,993 shares of the industrial products company’s stock valued at $9,605,000 after acquiring an additional 3,388 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $241.90 on Wednesday. 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 Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a 50-day simple moving average of $252.52 and a 200-day simple moving average of $253.16. The stock has a market capitalization of $70.18 billion, a price-to-earnings ratio of 23.46, a PEG 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 (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the firm posted $3.91 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business’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 directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction 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. This trade represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Stifel Nicolaus increased their target price 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. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $264.69.

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.