ABC Arbitrage SA Sells 747 Shares of Illinois Tool Works Inc. $ITW

ABC Arbitrage SA reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,446 shares of the industrial products company’s stock after selling 747 shares during the quarter. ABC Arbitrage SA’s holdings in Illinois Tool Works were worth $1,099,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Forsta AP Fonden boosted its position in Illinois Tool Works by 10.0% during the second quarter. Forsta AP Fonden now owns 102,000 shares of the industrial products company’s stock worth $25,220,000 after purchasing an additional 9,300 shares during the period. KBC Group NV lifted its stake in shares of Illinois Tool Works by 3.8% during the 2nd quarter. KBC Group NV now owns 61,149 shares of the industrial products company’s stock worth $15,119,000 after buying an additional 2,257 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Illinois Tool Works by 8.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 260,022 shares of the industrial products company’s stock worth $64,290,000 after buying an additional 20,836 shares during the period. Advyzon Investment Management LLC grew its stake in Illinois Tool Works by 13.0% in the 2nd quarter. Advyzon Investment Management LLC now owns 920 shares of the industrial products company’s stock valued at $228,000 after buying an additional 106 shares during the last quarter. Finally, CENTRAL TRUST Co raised its holdings in Illinois Tool Works by 42.8% in the 2nd quarter. CENTRAL TRUST Co now owns 9,697 shares of the industrial products company’s stock valued at $2,398,000 after acquiring an additional 2,908 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus lifted their target price 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, Truist Financial reduced their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus price target of $262.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $245.16 on Thursday. The company has a market cap of $71.12 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week 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 stock has a fifty day moving average price of $254.28 and a 200-day moving average price of $253.00.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. Illinois Tool Works’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, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction 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 transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.