Huntleigh Advisors Inc. Acquires New Shares in Illinois Tool Works Inc. $ITW

Huntleigh Advisors Inc. acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,707 shares of the industrial products company's stock, valued at approximately $1,906,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Illinois Tool Works by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock worth $627,176,000 after purchasing an additional 11,854 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Illinois Tool Works by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company's stock worth $513,994,000 after purchasing an additional 13,354 shares in the last quarter. Invesco Ltd. raised its holdings in Illinois Tool Works by 4.7% in the first quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company's stock worth $504,683,000 after purchasing an additional 91,359 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Illinois Tool Works by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company's stock worth $435,508,000 after purchasing an additional 45,316 shares in the last quarter. Finally, Amundi raised its holdings in Illinois Tool Works by 1.1% in the first quarter. Amundi now owns 1,599,648 shares of the industrial products company's stock worth $383,828,000 after purchasing an additional 17,119 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $249.46 on Friday. The business's 50 day moving average price is $260.15 and its 200 day moving average price is $250.87. The firm has a market cap of $72.72 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.46 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

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, beating analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, 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 announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, September 30th. Illinois Tool Works's payout ratio is currently 56.44%.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction that occurred on 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ITW has been the subject of a number of recent research reports. Truist Financial boosted 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. Wells Fargo & Company boosted their target price 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 company a "neutral" rating in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $262.83.

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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