ABN Amro Investment Solutions Acquires New Position in Illinois Tool Works Inc. $ITW

ABN Amro Investment Solutions acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,367 shares of the industrial products company’s stock, valued at approximately $1,327,000.

Other institutional investors have also modified their holdings of the company. Bank & Trust Co grew its stake in Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 39 shares in the last quarter. Northcape Wealth Management LLC grew its position in shares of Illinois Tool Works by 2.1% during the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after buying an additional 40 shares in the last quarter. TFG Advisers LLC increased its stake in shares of Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 42 shares during the period. Freedom Investment Management Inc. raised its holdings in shares of Illinois Tool Works by 3.0% in the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares in the last quarter. Finally, Clearstead Trust LLC lifted its stake in Illinois Tool Works by 0.9% in the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was 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. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was 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 approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $243.75 on Friday. 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 market cap of $70.71 billion, a PE ratio of 23.64, a P/E/G ratio of 4.10 and a beta of 1.11. 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 business has a 50-day simple moving average of $253.42 and a two-hundred day simple moving average of $252.97.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. Illinois Tool Works’s revenue was up 2.3% on a year-over-year basis. During the same period last 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, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a report on Monday, October 27th. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an “underperform” rating in a report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Truist Financial cut their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Barclays boosted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating 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 issued a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works has an average rating of “Reduce” and a consensus target price of $262.00.

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.