Kingswood Wealth Advisors LLC Cuts Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Kingswood Wealth Advisors LLC reduced its ownership of Illinois Tool Works Inc. (ITW) by 35.2%, ending the quarter with 2,363 shares valued at $584,000.
• Illinois Tool Works recently declared a quarterly dividend of $1.61 per share, an increase from the previous $1.50, with a dividend yield of 2.6%.
• The company's stock is currently rated by analysts with a consensus of "Reduce", and has an average target price of $262.83.

Kingswood Wealth Advisors LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 35.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,363 shares of the industrial products company's stock after selling 1,283 shares during the period. Kingswood Wealth Advisors LLC's holdings in Illinois Tool Works were worth $584,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ITW. Brighton Jones LLC boosted 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 purchasing an additional 277 shares during the last quarter. Bison Wealth LLC boosted 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 purchasing an additional 81 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Illinois Tool Works by 19.9% during the 1st quarter. Farther Finance Advisors LLC now owns 3,359 shares of the industrial products company's stock worth $835,000 after purchasing an additional 557 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $363,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of Illinois Tool Works by 1.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company's stock worth $1,006,000 after purchasing an additional 54 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 1.8%

NYSE:ITW opened at $248.19 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock's fifty day moving average is $261.18 and its two-hundred day moving average is $251.04. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 5.59 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its 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. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $2.54 earnings per share. Illinois Tool Works's 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. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is currently 56.44%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an "underperform" rating in a report on Tuesday, August 19th. Wells Fargo & Company boosted their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Illinois Tool Works in a report on Wednesday. UBS Group upped their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $262.83.

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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