Illinois Tool Works Inc. $ITW Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC reduced its stake in Illinois Tool Works by 4.2%, holding 25,797 shares worth approximately $6.4 million following the sale of 1,124 shares.
• In the latest quarterly results, Illinois Tool Works reported an EPS of $2.58, surpassing estimates and showing a slight revenue increase of 0.6% year-over-year, totaling $4.05 billion.
• The company has recently declared a quarterly dividend of $1.61 per share, which is an increase from the previous quarter's $1.50, reflecting a 2.4% yield based on its annualized dividend.

Ieq Capital LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,797 shares of the industrial products company's stock after selling 1,124 shares during the period. Ieq Capital LLC's holdings in Illinois Tool Works were worth $6,398,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter worth $26,000. Park Square Financial Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $35,000. Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $49,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Illinois Tool Works by 167.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $1.02 during trading on Friday, reaching $264.73. The stock had a trading volume of 963,377 shares, compared to its average volume of 912,597. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market cap of $77.17 billion, a PE ratio of 23.20, a P/E/G ratio of 5.71 and a beta of 1.10. The firm's 50 day moving average price is $258.01 and its two-hundred day moving average price is $250.59.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $2.54 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.59%.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Barclays lifted their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. UBS Group lifted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research note on Wednesday, May 7th. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the company an "underperform" rating in a report on Tuesday, August 19th. Finally, Stifel Nicolaus raised their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $260.67.

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.