Illinois Tool Works Inc. $ITW Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its holdings in Illinois Tool Works Inc. by 4.0%, selling 2,612 shares and leaving them with a total of 61,953 shares, valued at approximately $15.37 million.
• Illinois Tool Works has announced an increase in its quarterly dividend to $1.61 per share, effective October 10th, raising the annualized dividend yield to 2.4%.
• The stock of Illinois Tool Works is currently rated with a mix of Buy, Hold, and Sell ratings, with an average target price of $260.67 from analysts.

Kestra Advisory Services LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,953 shares of the industrial products company's stock after selling 2,612 shares during the period. Kestra Advisory Services LLC's holdings in Illinois Tool Works were worth $15,365,000 at the end of the most recent reporting period.

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

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group boosted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price on the stock. in a research report on Thursday, July 31st. Robert W. Baird upped their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. 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. Finally, 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. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $260.67.

Illinois Tool Works Stock Performance

NYSE ITW traded down $1.39 during trading hours on Friday, hitting $264.36. The company had a trading volume of 231,561 shares, compared to its average volume of 1,078,936. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a market cap of $77.06 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 5.76 and a beta of 1.09. The business has a 50 day moving average of $257.52 and a 200-day moving average of $250.65.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. Illinois Tool Works's revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities research analysts expect 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. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Illinois Tool Works's payout ratio is currently 56.44%.

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.