Bartlett & CO. Wealth Management LLC Sells 3,147 Shares of Illinois Tool Works Inc. $ITW

Bartlett & CO. Wealth Management LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,424 shares of the industrial products company’s stock after selling 3,147 shares during the quarter. Bartlett & CO. Wealth Management LLC owned approximately 0.07% of Illinois Tool Works worth $53,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank & Trust Co grew its stake in shares of 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 acquiring an additional 39 shares during the last quarter. Northcape Wealth Management LLC raised its stake in shares of Illinois Tool Works by 2.1% in the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after purchasing an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of Illinois Tool Works by 4.2% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after buying an additional 40 shares during the last quarter. TFG Advisers LLC increased its holdings in Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 42 shares in the last quarter. Finally, Freedom Investment Management Inc. raised its position in Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. 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 note on Monday, November 17th. Truist Financial cut their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. 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 Illinois Tool Works in a research note on Monday, October 27th. Finally, Bank of America upgraded 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 report on Tuesday, November 18th. 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 company presently has an average rating of “Reduce” and a consensus target price of $259.25.

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the company’s 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 owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 0.4%

ITW opened at $250.12 on Friday. 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 stock’s fifty day moving average is $247.91 and its two-hundred day moving average is $253.74. The company has a market capitalization of $72.56 billion, a P/E ratio of 24.26, a PEG ratio of 11.19 and a beta of 1.14. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13.

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 analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.