Cwm LLC Sells 1,425 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Cwm LLC has reduced its stake in Illinois Tool Works by 7.6%, selling 1,425 shares, and now holds 17,271 shares valued at approximately $4.27 million.
• Several institutional investors, including Bank & Trust Co and TFG Advisers LLC, have recently increased their stakes in Illinois Tool Works, which is now 79.77% owned by institutional investors.
• Illinois Tool Works reported strong earnings with a quarterly EPS of $2.58, surpassing expectations, while also recently increasing its quarterly dividend from $1.50 to $1.61 per share.

Cwm LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,271 shares of the industrial products company's stock after selling 1,425 shares during the quarter. Cwm LLC's holdings in Illinois Tool Works were worth $4,270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ITW. Bank & Trust Co increased its stake in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company's stock worth $2,526,000 after purchasing an additional 39 shares in the last quarter. TFG Advisers LLC increased its stake in shares of Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company's stock worth $2,092,000 after purchasing an additional 42 shares in the last quarter. Clearstead Trust LLC increased its stake in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company's stock worth $1,180,000 after purchasing an additional 43 shares in the last quarter. Northern Financial Advisors Inc increased its stake in shares of Illinois Tool Works by 1.9% in the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company's stock worth $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC boosted its holdings in Illinois Tool Works by 2.5% in the 2nd quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company's stock worth $446,000 after buying an additional 44 shares during the period. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

ITW has been the subject of several research reports. Evercore ISI set a $265.00 price objective on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. UBS Group increased their price target 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. Truist Financial increased their price target on shares of Illinois Tool Works from $283.00 to $298.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Finally, Barclays increased their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $262.83.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction that occurred 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 approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $246.75 on Friday. The firm has a market capitalization of $71.93 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 5.48 and a beta of 1.10. The company's 50-day moving average is $260.30 and its 200 day moving average is $250.86. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its 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 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 company's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. 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 announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost 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 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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