Loudon Investment Management LLC Decreases Position in Illinois Tool Works Inc. $ITW

Key Points

• Loudon Investment Management LLC reduced its holdings in Illinois Tool Works Inc. by 17.5% during Q2, owning 14,505 shares worth approximately $3.59 million.
• Illinois Tool Works reported $2.58 EPS for the last quarter, surpassing analysts' expectations, with total revenue of $4.05 billion.
• The company announced a quarterly dividend increase from $1.50 to $1.61 per share, with a new dividend yield of 2.5%.

Loudon Investment Management LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,505 shares of the industrial products company's stock after selling 3,071 shares during the quarter. Illinois Tool Works accounts for about 2.0% of Loudon Investment Management LLC's portfolio, making the stock its 15th largest position. Loudon Investment Management LLC's holdings in Illinois Tool Works were worth $3,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the first quarter worth about $26,000. Saudi Central Bank acquired a new stake in Illinois Tool Works in the 1st quarter worth approximately $29,000. 1248 Management LLC purchased a new stake in Illinois Tool Works during the 1st quarter worth approximately $30,000. Banque Transatlantique SA acquired a new position in Illinois Tool Works during the 1st quarter valued at approximately $30,000. Finally, Nova Wealth Management Inc. purchased a new position in shares of Illinois Tool Works in the first quarter worth $36,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.1%

Shares of Illinois Tool Works stock opened at $261.08 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm's 50-day moving average price is $261.57 and its 200 day moving average price is $250.92. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $76.10 billion, a PE ratio of 22.88, a P/E/G ratio of 5.64 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, topping analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. 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 fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. 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 payout ratio is presently 52.59%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Truist Financial cut 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. Wells Fargo & Company upped their target price on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Finally, Citigroup raised their price target on shares of 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 investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of "Reduce" and a consensus price target of $260.67.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

Illinois Tool Works 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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