Illinois Tool Works Inc. $ITW Shares Bought by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 1,328.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,929 shares of the industrial products company’s stock after buying an additional 12,954 shares during the quarter. Illinois Tool Works accounts for 1.9% of Brendel Financial Advisors LLC’s holdings, making the stock its 22nd largest holding. Brendel Financial Advisors LLC’s holdings in Illinois Tool Works were worth $3,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $821,888,000. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 24,625.1% in the second quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock valued at $84,913,000 after purchasing an additional 342,042 shares in the last quarter. Vanguard Group Inc. increased its stake in Illinois Tool Works by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock worth $6,607,453,000 after buying an additional 335,955 shares during the period. Finally, Invesco Ltd. lifted its holdings in 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 buying an additional 185,416 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research reports. Evercore ISI dropped 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. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday, October 27th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Finally, Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $259.25.

Illinois Tool Works Trading Down 0.6%

Shares of Illinois Tool Works stock opened at $250.73 on Wednesday. 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 company has a fifty day simple moving average of $248.24 and a 200-day simple moving average of $254.13. The stock has a market cap of $72.74 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 11.23 and a beta of 1.14. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business earned $3.91 EPS. Illinois Tool Works’s revenue for the quarter 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. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Insiders Place Their Bets

In other news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Company 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.