Illinois Tool Works Inc. $ITW Stock Holdings Trimmed by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. significantly reduced its stake in Illinois Tool Works by 65.4% in the second quarter, now holding 6,448 shares valued at approximately $1.61 million.
• Illinois Tool Works recently declared a quarterly dividend of $1.61 per share, marking an increase from the previous $1.50 dividend and resulting in an annualized yield of 2.6%.
• Analysts have raised price targets for Illinois Tool Works, with a consensus rating of "Reduce" and an average price target of $262.83, indicating mixed market sentiment.

Atria Wealth Solutions Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 65.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,448 shares of the industrial products company's stock after selling 12,188 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Illinois Tool Works were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased 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 valued at $627,176,000 after buying an additional 11,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Illinois Tool Works by 0.6% during the 1st 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 during the period. Invesco Ltd. raised its position in shares of Illinois Tool Works by 4.7% during the 1st 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Illinois Tool Works by 2.6% during the 1st 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 during the period. Finally, Amundi raised its position in shares of Illinois Tool Works by 1.1% during the 1st 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 during the period. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at approximately $2,734,035.12. This trade 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. Insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Citigroup increased their price target 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. Barclays increased their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a "hold" rating in a report on Thursday, October 2nd. Finally, UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Two investment 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 MarketBeat, Illinois Tool Works presently has a consensus rating of "Reduce" and an average price target of $262.83.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $247.42 on Thursday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market capitalization of $72.12 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 5.49 and a beta of 1.10. The business has a 50 day simple moving average of $260.50 and a 200 day simple moving average of $250.87. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during 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%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is 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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