Illinois Tool Works Inc. $ITW Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,594 shares of the industrial products company’s stock after selling 207 shares during the period. Acadian Asset Management LLC’s holdings in Illinois Tool Works were worth $2,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the first quarter worth $26,000. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the first quarter valued at about $29,000. 1248 Management LLC purchased a new position in shares of Illinois Tool Works in the first quarter worth about $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the first quarter worth about $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Truist Financial lowered 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. Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. UBS Group boosted their price target 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. Finally, Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and an average target price of $260.67.

Illinois Tool Works Trading Up 0.2%

ITW opened at $263.91 on Tuesday. The business has a fifty day moving average price of $260.87 and a 200 day moving average price of $250.74. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a market capitalization of $76.93 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 5.68 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $2.54 EPS. Illinois Tool Works’s revenue for the quarter 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. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.59%.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents 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 this link. Corporate insiders own 0.88% of the company’s stock.

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.