Illinois Tool Works Inc. $ITW Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the second quarter, HoldingsChannel.com reports. The firm owned 20,325 shares of the industrial products company’s stock after selling 420 shares during the period. Carnegie Investment Counsel’s holdings in Illinois Tool Works were worth $5,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. Brighton Jones LLC grew its stake in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the period. Bison Wealth LLC boosted its position in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after buying an additional 81 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Illinois Tool Works by 6.7% in the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock worth $2,066,000 after buying an additional 526 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Illinois Tool Works by 132.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,678 shares of the industrial products company’s stock worth $416,000 after buying an additional 957 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Illinois Tool Works by 3.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,752 shares of the industrial products company’s stock worth $1,923,000 after buying an additional 267 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 10,314 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 4.5%

ITW opened at $245.91 on Friday. The firm has a 50 day moving average price of $259.36 and a 200 day moving average price of $251.63. The company has a market cap of $71.68 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 5.70 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 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.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 21.31% and a return on equity of 90.89%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 56.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ITW shares. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Citigroup upped their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $262.83.

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.