Illinois Tool Works Inc. $ITW Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa significantly reduced its holdings in Illinois Tool Works, cutting its stake by 73.2% during the second quarter, now owning 4,233 shares valued at $1,047,000.
• A variety of analysts have revised their price targets for Illinois Tool Works, with Barclays and Citigroup raising targets to $243.00 and $265.00 respectively, while the company's consensus rating stands at "Reduce" with an average target of $260.67.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 per share, reflecting a positive change from $1.50, with a dividend yield of 2.5%.

Lbp Am Sa decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 73.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,233 shares of the industrial products company's stock after selling 11,546 shares during the period. Lbp Am Sa's holdings in Illinois Tool Works were worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC increased its holdings in shares of Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock worth $901,000 after buying an additional 81 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $125,000. Merit Financial Group LLC increased its holdings in shares of Illinois Tool Works by 13.9% during the 1st quarter. Merit Financial Group LLC now owns 9,384 shares of the industrial products company's stock worth $2,327,000 after buying an additional 1,142 shares during the last quarter. Finally, RFG Advisory LLC increased its holdings in shares of Illinois Tool Works by 45.3% during the 1st quarter. RFG Advisory LLC now owns 5,078 shares of the industrial products company's stock worth $1,259,000 after buying an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ITW shares. Barclays raised their price target 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. Citigroup lifted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. UBS Group lifted their target price 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. Finally, Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. 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 assigned a Sell rating to the company. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Reduce" and an average price target of $260.67.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $260.51 on Friday. The company has a fifty day simple moving average of $261.47 and a two-hundred day simple moving average of $251.01. The company has a market cap of $75.94 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 5.61 and a beta of 1.10. 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 Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's payout ratio is presently 56.44%.

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.

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