Conning Inc. Sells 12,773 Shares of Illinois Tool Works Inc. $ITW

Conning Inc. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,697 shares of the industrial products company’s stock after selling 12,773 shares during the period. Conning Inc.’s holdings in Illinois Tool Works were worth $33,038,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. Corsicana & Co. acquired a new position in Illinois Tool Works during the third quarter worth $26,000. SOA Wealth Advisors LLC. raised its position in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the second quarter valued at $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its stake in shares of Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 63 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. The Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday, October 27th. Finally, Evercore ISI reduced their price objective 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. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $259.67.

Illinois Tool Works Stock Up 0.7%

ITW stock opened at $258.62 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $278.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $75.03 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 13.76 and a beta of 1.15. The business’s fifty day moving average price is $249.43 and its two-hundred day moving average price is $254.67.

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

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 31st. Illinois Tool Works’s payout ratio is presently 62.46%.

Insider Activity

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s 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 in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company 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.