Gables Capital Management Inc. Sells 1,287 Shares of Illinois Tool Works Inc. $ITW

Key Points

• Gables Capital Management Inc. sold 1,287 shares of Illinois Tool Works, reducing its position by 87.1% in Q2, and now holds only 190 shares valued at approximately $47,000.
• Illinois Tool Works reported earnings of $2.58 per share for the last quarter, exceeding analyst expectations and marking a 0.6% increase in revenue year-over-year.
• The company recently increased its quarterly dividend from $1.50 to $1.61 per share, with a current yield of 2.5% and a payout ratio of 56.44%.

Gables Capital Management Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 87.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190 shares of the industrial products company's stock after selling 1,287 shares during the quarter. Gables Capital Management Inc.'s holdings in Illinois Tool Works were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OneAscent Financial Services LLC raised its holdings in Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock valued at $210,000 after buying an additional 65 shares during the last quarter. Advisory Alpha LLC bought a new stake in Illinois Tool Works during the 1st quarter valued at $259,000. Global X Japan Co. Ltd. raised its holdings in Illinois Tool Works by 8.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company's stock valued at $624,000 after buying an additional 193 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Illinois Tool Works by 17.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company's stock valued at $4,447,000 after buying an additional 2,647 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 1.9%

NYSE:ITW opened at $257.17 on Wednesday. The firm's 50-day moving average price is $260.00 and its 200-day moving average price is $251.17. The company has a market capitalization of $74.96 billion, a PE ratio of 22.54, a P/E/G ratio of 5.58 and a beta of 1.10. 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 Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate 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 revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $1.61 per share. 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. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works's payout ratio is currently 56.44%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ITW shares. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. Barclays upped their price objective 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. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. UBS Group upped their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Reduce" and an average target price of $262.83.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company's stock.

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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