Illinois Tool Works Inc. $ITW Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Illinois Tool Works by 2.9%, now owning approximately 3.34 million shares worth $828.7 million.
• Illinois Tool Works reported earnings of $2.58 EPS for the last quarter, slightly beating analyst expectations of $2.56, while revenue was up 0.6% year-over-year.
• The company recently declared a quarterly dividend of $1.61, increasing from the previous $1.50, resulting in an annualized yield of 2.4%.

Goldman Sachs Group Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,341,592 shares of the industrial products company's stock after selling 100,420 shares during the period. Goldman Sachs Group Inc. owned approximately 1.14% of Illinois Tool Works worth $828,748,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Trust Co of the South raised its holdings in Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 42 shares during the last quarter. Clearstead Trust LLC raised its holdings in 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 valued at $1,180,000 after acquiring an additional 43 shares during the last quarter. Northern Financial Advisors Inc raised its holdings in 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 valued at $582,000 after acquiring an additional 44 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Illinois Tool Works by 0.8% during the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after buying an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of Illinois Tool Works by 3.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ITW shares. UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a research report on Thursday, July 31st. Wells Fargo & Company upped their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Finally, Barclays upped their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. One analyst has 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 currently has a consensus rating of "Reduce" and an average target price of $260.67.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $266.05 on Monday. The firm has a market capitalization of $77.55 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 5.74 and a beta of 1.10. The business's fifty day moving average price is $259.77 and its 200 day moving average price is $250.68. 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 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is presently 52.59%.

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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