Blair William & Co. IL Cuts Stake in Illinois Tool Works Inc. $ITW

Key Points

• Blair William & Co. IL reduced its stake in Illinois Tool Works by 5.2% in Q2, now holding approximately 0.14% of the company valued at $104.23 million.
• Illinois Tool Works announced an increase in its quarterly dividend to $1.61 per share, reflecting a 2.5% yield and an annualized figure of $6.44.
• Wall Street analysts have a consensus price target of $262.83 for Illinois Tool Works, indicating a mix of ratings with two analysts rating it as "Buy" and three as "Sell".

Blair William & Co. IL lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,557 shares of the industrial products company's stock after selling 23,295 shares during the period. Blair William & Co. IL owned about 0.14% of Illinois Tool Works worth $104,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC lifted its position in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after buying an additional 81 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Illinois Tool Works by 19.9% during the 1st quarter. Farther Finance Advisors LLC now owns 3,359 shares of the industrial products company's stock worth $835,000 after acquiring an additional 557 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 1st quarter worth about $363,000. Finally, Wealthcare Advisory Partners LLC raised its stake in Illinois Tool Works by 1.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company's stock valued at $1,006,000 after acquiring an additional 54 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research reports. Barclays increased their target price on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. UBS Group boosted their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus raised their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $262.83.

Illinois Tool Works Stock Down 1.1%

ITW stock opened at $252.91 on Thursday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market cap of $73.72 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company's 50 day moving average is $261.33 and its 200 day moving average is $251.09.

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, topping analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is presently 56.44%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company's stock.

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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