Exchange Traded Concepts LLC Buys 312 Shares of Illinois Tool Works Inc. $ITW

Exchange Traded Concepts LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,933 shares of the industrial products company’s stock after acquiring an additional 312 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Illinois Tool Works were worth $1,220,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at about $214,000. OneAscent Financial Services LLC raised its holdings in shares of Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at about $946,000. Finally, Advisory Alpha LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at about $259,000. 79.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $261.07 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The stock’s fifty day moving average price is $261.15 and its two-hundred day moving average price is $250.69. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The firm has a market cap of $76.10 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 5.65 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share 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 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed 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. This represents a $6.44 annualized dividend and a yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s payout ratio is 52.59%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research analyst reports. Truist Financial cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target for the company. in a report on Thursday, July 31st. Citigroup boosted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report 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 report on Tuesday, August 19th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $260.67.

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.