PFW Advisors LLC Sells 329 Shares of Illinois Tool Works Inc. $ITW

by · The Cerbat Gem

PFW Advisors LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 9,255 shares of the industrial products company’s stock after selling 329 shares during the period. PFW Advisors LLC’s holdings in Illinois Tool Works were worth $2,288,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Trust Co of the South lifted its holdings in Illinois Tool Works by 2.9% in the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 42 shares during the period. Clearstead Trust LLC lifted its holdings in Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after acquiring an additional 43 shares during the period. Northern Financial Advisors Inc lifted its holdings in Illinois Tool Works by 1.9% in the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 44 shares during the period. Integrated Advisors Network LLC lifted its holdings in Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after acquiring an additional 45 shares during the period. Finally, Aspen Investment Management Inc lifted its holdings in Illinois Tool Works by 0.7% in the first quarter. Aspen Investment Management Inc now owns 6,236 shares of the industrial products company’s stock valued at $1,547,000 after acquiring an additional 45 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, September 11th. The stock was 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 approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $261.90 on Wednesday. The stock has a market cap of $76.34 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 5.69 and a beta of 1.10. 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 50 day moving average price of $260.95 and a 200-day moving average price of $250.82. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

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

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.59%.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Truist Financial downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective on the stock. in a research note on Thursday, July 31st. Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Finally, UBS Group raised their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One analyst has 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 MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $260.67.

Check Out Our Latest Report on ITW

Illinois Tool Works Profile

(Free Report)

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.

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