Signal Advisors Wealth LLC Sells 992 Shares of Illinois Tool Works Inc. $ITW

Signal Advisors Wealth LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 52.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the industrial products company’s stock after selling 992 shares during the period. Signal Advisors Wealth LLC’s holdings in Illinois Tool Works were worth $225,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ITW. Ameriflex Group Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works during the 1st quarter valued at about $26,000. Saudi Central Bank acquired a new position in Illinois Tool Works during the 1st quarter valued at about $29,000. 1248 Management LLC acquired a new position in Illinois Tool Works during the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA acquired a new position in Illinois Tool Works during the 1st quarter valued at about $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ITW shares. Stifel Nicolaus lifted their price target 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. UBS Group lifted their target price 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. Citigroup lifted 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 report on Monday, July 14th. Truist Financial cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $261.91 on Friday. The company has a market cap of $76.35 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a 50-day moving average price of $261.08 and a 200-day moving average price of $250.88. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. Illinois Tool Works’s payout ratio is currently 52.59%.

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.