Baird Financial Group Inc. Has $75.50 Million Stake in Illinois Tool Works Inc. $ITW

Baird Financial Group Inc. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,354 shares of the industrial products company’s stock after selling 141,835 shares during the quarter. Baird Financial Group Inc. owned 0.10% of Illinois Tool Works worth $75,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ITW. Invesco Ltd. increased its position in shares of Illinois Tool Works by 9.1% during the 2nd quarter. Invesco Ltd. now owns 2,220,345 shares of the industrial products company’s stock worth $548,980,000 after purchasing an additional 185,416 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Illinois Tool Works by 13.6% in the second quarter. 1832 Asset Management L.P. now owns 240,375 shares of the industrial products company’s stock valued at $59,433,000 after buying an additional 28,778 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Illinois Tool Works during the second quarter worth about $31,000. Groupe la Francaise increased its holdings in shares of Illinois Tool Works by 16.6% during the second quarter. Groupe la Francaise now owns 27,449 shares of the industrial products company’s stock worth $6,757,000 after buying an additional 3,908 shares in the last quarter. Finally, Isthmus Partners LLC bought a new position in shares of Illinois Tool Works in the second quarter valued at approximately $324,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $249.37 on Friday. The company has a fifty day moving average price of $248.88 and a two-hundred day moving average price of $253.20. The firm has a market capitalization of $72.34 billion, a PE ratio of 24.19, a P/E/G ratio of 11.14 and a beta of 1.14. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.20. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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. 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 for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the company earned $3.91 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business 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 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%.

Insider Transactions at Illinois Tool Works

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research note on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Finally, Truist Financial decreased their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $263.77.

Illinois Tool Works Company 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.