Modera Wealth Management LLC Acquires 204 Shares of Illinois Tool Works Inc. $ITW

Modera Wealth Management LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,417 shares of the industrial products company’s stock after purchasing an additional 204 shares during the quarter. Modera Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,339,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the period. Bison Wealth LLC raised its holdings in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock worth $901,000 after purchasing an additional 81 shares during the last quarter. Genus Capital Management Inc. bought a new position in Illinois Tool Works during the 1st quarter worth approximately $893,000. Fidelis Capital Partners LLC lifted its position in shares of Illinois Tool Works by 11.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,558 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 360 shares during the period. Finally, Xponance Inc. boosted its stake in shares of Illinois Tool Works by 1.8% in the 1st quarter. Xponance Inc. now owns 51,741 shares of the industrial products company’s stock valued at $12,832,000 after purchasing an additional 905 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Barclays upped their target price on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a report on Monday, October 27th. Finally, Truist Financial cut 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. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $262.00.

Insider Transactions at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s 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 transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% 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 Trading Up 0.5%

NYSE ITW opened at $245.47 on Friday. 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 52 week low of $214.66 and a 52 week high of $279.13. The business has a 50 day moving average price of $255.34 and a 200-day moving average price of $252.89. The company has a market cap of $71.21 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued 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 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%.Illinois Tool Works’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

About Illinois Tool Works

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.