Chesley Taft & Associates LLC Decreases Stock Position in Illinois Tool Works Inc. $ITW

Chesley Taft & Associates LLC decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,342 shares of the industrial products company’s stock after selling 3,567 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Illinois Tool Works were worth $20,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Modern Wealth Management LLC raised its stake in Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after buying an additional 65 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Illinois Tool Works by 39.5% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after acquiring an additional 19,102 shares during the last quarter. Level Four Advisory Services LLC raised its position in shares of Illinois Tool Works by 16.3% during the 2nd quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock worth $2,888,000 after acquiring an additional 1,638 shares in the last quarter. Swiss National Bank lifted its stake in Illinois Tool Works by 1.3% during the second quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after purchasing an additional 415,982 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.7%

Shares of ITW stock opened at $252.42 on Thursday. The company has a market capitalization of $73.23 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 11.16 and a beta of 1.14. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The business’s 50 day moving average is $247.75 and its two-hundred day moving average is $253.71. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $278.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share 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 firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the company earned $3.91 earnings per share. The company’s revenue for the quarter 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. Equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

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 $1.61 dividend. The ex-dividend date of this dividend 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 Transactions at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Evercore ISI reduced their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Finally, The Goldman Sachs Group cut Illinois Tool Works from a “neutral” rating to a “sell” rating and decreased their target price for the company from $258.00 to $230.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and a consensus target price of $259.25.

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.