Boston Trust Walden Corp Sells 9,277 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Boston Trust Walden Corp sold 9,277 shares of Illinois Tool Works Inc., reducing its stake by 4.5%, and now owns 196,612 shares valued at approximately $48.6 million.
• Institutional investors hold 79.77% of Illinois Tool Works, with recent activity including new positions from multiple firms such as Frazier Financial Advisors and Saudi Central Bank.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61 per share, representing an annual yield of 2.6% and reflecting a positive financial outlook.

Boston Trust Walden Corp lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,612 shares of the industrial products company's stock after selling 9,277 shares during the quarter. Boston Trust Walden Corp owned about 0.07% of Illinois Tool Works worth $48,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth about $25,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth about $26,000. SOA Wealth Advisors LLC. raised its holdings in shares of Illinois Tool Works by 90.9% in the 2nd 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 during the last quarter. Saudi Central Bank acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth about $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth about $30,000. Institutional investors own 79.77% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ITW. Barclays upped 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 report on Monday, August 4th. Truist Financial upped their target price on shares of Illinois Tool Works from $283.00 to $298.00 and gave the stock a "hold" rating in a report on Wednesday, October 8th. Citigroup upped their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus increased their price objective 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Illinois Tool Works in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $262.83.

Illinois Tool Works Trading Up 1.5%

NYSE:ITW opened at $248.20 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. 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 firm's 50 day moving average is $260.70 and its 200 day moving average is $250.90. The stock has a market capitalization of $72.35 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 5.41 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the company earned $2.54 earnings per share. Illinois Tool Works's revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.6%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 56.44%.

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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