Ballentine Partners LLC Sells 2,687 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Ballentine Partners LLC reduced its stake in Illinois Tool Works by 26.1%, selling 2,687 shares and owning 7,596 shares valued at approximately $1.88 million as of their latest SEC filing.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61 per share, providing a dividend yield of 2.5% for shareholders of record.
• The company's stock opened at $259.61 and has a market cap of $75.68 billion, with a P/E ratio of 22.75 and recent earnings beating forecasts.

Ballentine Partners LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 26.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,596 shares of the industrial products company's stock after selling 2,687 shares during the quarter. Ballentine Partners LLC's holdings in Illinois Tool Works were worth $1,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Sivia Capital Partners LLC bought a new stake in Illinois Tool Works in the 1st quarter worth about $214,000. OneAscent Financial Services LLC increased its holdings in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after buying an additional 341 shares in the last quarter. Modern Wealth Management LLC increased its holdings in Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock worth $210,000 after buying an additional 65 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Illinois Tool Works in the 1st quarter worth about $946,000. Finally, Advisory Alpha LLC bought a new stake in Illinois Tool Works in the 1st quarter worth about $259,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.6%

ITW stock opened at $259.61 on Thursday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a market cap of $75.68 billion, a P/E ratio of 22.75, a PEG ratio of 5.63 and a beta of 1.10. The business's 50-day moving average price is $261.30 and its 200-day moving average price is $250.82.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ITW. Barclays lifted their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Stifel Nicolaus boosted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Truist Financial downgraded Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target for the company. in a research note on Thursday, July 31st. Finally, Wells Fargo & Company boosted their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Reduce" and an average target price of $260.67.

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.

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