Benjamin Edwards Inc. Increases Stock Position in Illinois Tool Works Inc. $ITW

Benjamin Edwards Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 201,753 shares of the industrial products company’s stock after buying an additional 6,422 shares during the period. Benjamin Edwards Inc. owned about 0.07% of Illinois Tool Works worth $52,625,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after purchasing an additional 335,955 shares in the last quarter. State Street Corp increased its position in shares of Illinois Tool Works by 0.9% during the second quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock worth $3,103,167,000 after purchasing an additional 108,919 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Illinois Tool Works by 12.3% in the 2nd 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 last quarter. Finally, Fisher Asset Management LLC boosted its stake in Illinois Tool Works by 2.3% during the 2nd quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock worth $888,900,000 after purchasing an additional 80,527 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

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 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 in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Down 2.8%

Shares of NYSE ITW opened at $247.06 on Thursday. 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 stock has a market capitalization of $71.67 billion, a PE ratio of 23.96, a PEG ratio of 10.54 and a beta of 1.15. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $278.13. The stock has a fifty day simple moving average of $248.25 and a 200-day simple moving average of $254.34.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.Illinois Tool Works’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $3.91 EPS. 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 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ITW shares. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Evercore ISI decreased their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Truist Financial dropped their price target on 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. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $255.00 in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $259.67.

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.