J. Safra Sarasin Holding AG Has $58.56 Million Stake in Illinois Tool Works Inc. $ITW

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Illinois Tool Works Inc. by 1.6%, currently holding 236,852 shares worth approximately $58.56 million.
• Illinois Tool Works has increased its quarterly dividend to $1.61, representing an annualized dividend of $6.44 and a yield of 2.5%.
• Illinois Tool Works reported a net margin of 21.31% and earnings per share of $2.58 for the last quarter, exceeding analysts' expectations.

J. Safra Sarasin Holding AG lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,852 shares of the industrial products company's stock after selling 3,789 shares during the period. J. Safra Sarasin Holding AG owned 0.08% of Illinois Tool Works worth $58,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sivia Capital Partners LLC acquired a new stake in Illinois Tool Works during the first quarter worth approximately $214,000. OneAscent Financial Services LLC increased its stake in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after purchasing an additional 341 shares during the period. Modern Wealth Management LLC lifted its holdings in Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Illinois Tool Works in the 1st quarter valued at $946,000. Finally, Advisory Alpha LLC acquired a new position in Illinois Tool Works in the 1st quarter valued at $259,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ITW shares. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective for the company. in a research note on Thursday, July 31st. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Barclays lifted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Citigroup raised their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $260.67.

Illinois Tool Works Trading Down 0.3%

ITW opened at $259.89 on Thursday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a fifty day moving average of $261.50 and a 200-day moving average of $250.98. The stock has a market cap of $75.76 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 5.62 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 (NYSE:ITW - Get Free Report) last issued its quarterly 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is presently 56.44%.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the transaction, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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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