Bartlett & CO. Wealth Management LLC Decreases Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Bartlett & CO. Wealth Management LLC reduced its holdings in Illinois Tool Works by 0.9% in Q2, now owning 206,571 shares valued at $51.3 million.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61 per share, reflecting a 2.5% yield based on the current stock price.
• The company reported a Q2 EPS of $2.58, surpassing analyst estimates, with revenue of $4.05 billion, a 0.6% year-over-year increase.

Bartlett & CO. Wealth Management LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 206,571 shares of the industrial products company's stock after selling 1,958 shares during the period. Bartlett & CO. Wealth Management LLC owned 0.07% of Illinois Tool Works worth $51,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new stake in Illinois Tool Works during the first quarter valued at approximately $214,000. OneAscent Financial Services LLC lifted its position in Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after acquiring an additional 341 shares during the last quarter. Modern Wealth Management LLC lifted its position in Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock valued at $210,000 after acquiring an additional 65 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Illinois Tool Works during the first quarter valued at approximately $946,000. Finally, Advisory Alpha LLC purchased a new stake in Illinois Tool Works during the first quarter valued at approximately $259,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 0.1%

ITW stock opened at $261.08 on Wednesday. The firm has a market cap of $76.10 billion, a PE ratio of 22.88, a P/E/G ratio of 5.64 and a beta of 1.10. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm's fifty day moving average is $261.57 and its 200 day moving average is $250.92. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, 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. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works's payout ratio is 52.59%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Finally, Truist Financial lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $260.67.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The shares were 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. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

About Illinois Tool Works

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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