Illinois Tool Works Inc. $ITW Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,909 shares of the industrial products company’s stock after selling 88 shares during the period. First City Capital Management Inc.’s holdings in Illinois Tool Works were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ITW. GAMMA Investing LLC grew its stake in shares of Illinois Tool Works by 26,372.8% during the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Auto Owners Insurance Co grew its stake 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 purchasing an additional 1,427,450 shares in the last quarter. Nuveen LLC acquired a new position in shares of Illinois Tool Works during the first quarter worth $293,928,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $47,254,000. Finally, JPMorgan Chase & Co. boosted its stake in Illinois Tool Works by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company’s stock valued at $313,734,000 after acquiring an additional 160,009 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related 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 completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $259.61 on Thursday. The company has a 50-day simple moving average of $261.30 and a 200-day simple moving average of $250.82. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 5.63 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company earned $2.54 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 52.59%.

Analyst Ratings Changes

Several research firms have issued reports on ITW. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Barclays upped their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. UBS Group upped 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. Finally, Truist Financial downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective for the company. in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $260.67.

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.