Illinois Tool Works Inc. $ITW Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,323 shares of the industrial products company’s stock after selling 1,760 shares during the quarter. Illinois Tool Works makes up about 1.4% of Arcadia Investment Management Corp MI’s holdings, making the stock its 24th largest position. Arcadia Investment Management Corp MI’s holdings in Illinois Tool Works were worth $8,486,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its position in Illinois Tool Works by 6.4% during the second quarter. Advisors Capital Management LLC now owns 2,695 shares of the industrial products company’s stock worth $667,000 after acquiring an additional 161 shares during the last quarter. Intrua Financial LLC increased its stake in shares of Illinois Tool Works by 6.3% during the 2nd quarter. Intrua Financial LLC now owns 1,041 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 62 shares in the last quarter. Clearstead Trust LLC raised its position in shares of Illinois Tool Works by 21.1% during the 2nd quarter. Clearstead Trust LLC now owns 5,764 shares of the industrial products company’s stock worth $1,425,000 after purchasing an additional 1,006 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its stake in Illinois Tool Works by 13.4% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 3,956 shares of the industrial products company’s stock valued at $978,000 after buying an additional 467 shares in the last quarter. Finally, Petix & Botte Co acquired a new stake in Illinois Tool Works during the 2nd quarter valued at $202,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ITW shares. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $262.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 0.6%

Shares of NYSE ITW opened at $243.75 on Friday. The stock has a market capitalization 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 quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The firm has a fifty day moving average of $253.42 and a 200-day moving average of $252.97. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 issued a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works’s payout ratio is presently 62.46%.

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.