Illinois Tool Works Inc. $ITW Shares Acquired by North Star Asset Management Inc.

North Star Asset Management Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 112.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,132 shares of the industrial products company’s stock after acquiring an additional 33,401 shares during the quarter. North Star Asset Management Inc.’s holdings in Illinois Tool Works were worth $15,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $25,000. SOA Wealth Advisors LLC. boosted its position in shares of Illinois Tool Works by 90.9% during 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 in the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works during the 1st quarter valued at approximately $29,000. 1248 Management LLC purchased a new stake in Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA acquired a new stake in Illinois Tool Works in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITW. Evercore ISI reduced their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a report on Monday, October 27th. UBS Group lifted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Truist Financial decreased their price target on shares of 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, Deutsche Bank Aktiengesellschaft boosted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $263.77.

Illinois Tool Works Stock Down 2.1%

ITW stock opened at $242.47 on Tuesday. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 4.10 and a beta of 1.11. 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 12-month low of $214.66 and a 12-month high of $279.13. The company has a 50 day moving average of $250.83 and a two-hundred day moving average of $253.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities 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 firm also recently announced 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. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the firm’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 transaction of $373,025.25. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.