Empowered Funds LLC Has $14.90 Million Stake in Illinois Tool Works Inc. $ITW

Empowered Funds LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 58.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,256 shares of the industrial products company’s stock after purchasing an additional 22,318 shares during the period. Empowered Funds LLC’s holdings in Illinois Tool Works were worth $14,898,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bank & Trust Co boosted its position in shares of Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after buying an additional 39 shares during the period. Northcape Wealth Management LLC lifted its stake in Illinois Tool Works by 2.1% in the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 40 shares in the last quarter. TFG Advisers LLC boosted its position in Illinois Tool Works by 0.5% during the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 42 shares during the period. Freedom Investment Management Inc. grew its stake in Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares in the last quarter. Finally, Clearstead Trust LLC increased its holdings in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Up 0.2%

Shares of ITW stock opened at $241.90 on Wednesday. The stock’s 50 day simple moving average is $252.52 and its 200 day simple moving average is $253.16. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The company 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 announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 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 company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company posted $3.91 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

ITW has been the topic of a number of research analyst reports. UBS Group boosted 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 report on Thursday, July 31st. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $255.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased 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. Truist Financial lowered their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Finally, Barclays raised their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average 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.