Allworth Financial LP Buys 525 Shares of Illinois Tool Works Inc. $ITW

Allworth Financial LP increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,115 shares of the industrial products company’s stock after buying an additional 525 shares during the quarter. Allworth Financial LP’s holdings in Illinois Tool Works were worth $1,265,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ITW. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth about $25,000. SOA Wealth Advisors LLC. grew its holdings in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares during the period. Saudi Central Bank acquired a new position in Illinois Tool Works during the first quarter worth approximately $29,000. 1248 Management LLC bought a new stake in Illinois Tool Works in the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITW. Barclays boosted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. UBS Group upped their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $262.00.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $245.28 on Friday. The firm has a market cap of $71.16 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock’s fifty day moving average price is $253.87 and its two-hundred day moving average price is $252.95. 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) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.09. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.Illinois Tool Works’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Insider Buying and Selling

In related news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.