Prime Capital Investment Advisors LLC Has $2.67 Million Stake in Illinois Tool Works Inc. $ITW

Prime Capital Investment Advisors LLC trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,795 shares of the industrial products company's stock after selling 1,808 shares during the period. Prime Capital Investment Advisors LLC's holdings in Illinois Tool Works were worth $2,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the first quarter worth $26,000. SOA Wealth Advisors LLC. grew its position in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank bought a new position in Illinois Tool Works in the first quarter valued at $29,000. 1248 Management LLC bought a new position in Illinois Tool Works in the first quarter valued at $30,000. Finally, Banque Transatlantique SA bought a new position in Illinois Tool Works in the first quarter valued at $30,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $255.73 on Wednesday. The firm has a 50-day moving average of $261.34 and a 200-day moving average of $251.08. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market cap of $74.54 billion, a PE ratio of 22.41, a P/E/G ratio of 5.72 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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 company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. Illinois Tool Works's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter 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, sell-side 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is 56.44%.

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Barclays raised their target price 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. UBS Group raised their target price on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Truist Financial downgraded 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 report on Thursday, July 31st. Wells Fargo & Company lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $261.58.

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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