Illinois Tool Works Inc. $ITW Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,703 shares of the industrial products company’s stock after purchasing an additional 1,792 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Illinois Tool Works were worth $4,872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the second quarter worth about $25,000. SOA Wealth Advisors LLC. grew its stake in shares of Illinois Tool Works by 90.9% during the 2nd 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 purchased a new position in Illinois Tool Works in the first quarter valued at $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works during the first quarter worth approximately $30,000. Finally, Banque Transatlantique SA purchased a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the firm’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 of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.2%

Shares of NYSE ITW opened at $241.90 on Wednesday. The business’s 50 day moving average is $252.52 and its two-hundred day moving average is $253.16. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The firm has a market cap of $70.18 billion, a price-to-earnings ratio of 23.46, a PEG 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.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the company posted $3.91 EPS. Illinois Tool Works’s revenue 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. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ITW shares. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their target price for the company from $220.00 to $255.00 in a research report on Tuesday. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Finally, UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $264.69.

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.