Sax Wealth Advisors LLC Buys Shares of 1,207 Illinois Tool Works Inc. $ITW

Key Points

• Sax Wealth Advisors LLC acquired 1,207 shares of Illinois Tool Works Inc., valued at approximately $298,000, during the second quarter.
• Illinois Tool Works recently raised its quarterly dividend from $1.50 to $1.61, representing a dividend yield of 2.6%.
• Institutional investors own 79.77% of Illinois Tool Works' stock, indicating strong investor confidence in the company.

Sax Wealth Advisors LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,207 shares of the industrial products company's stock, valued at approximately $298,000.

Several other large investors also recently bought and sold shares of ITW. Brighton Jones LLC grew its holdings in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after acquiring an additional 81 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Illinois Tool Works by 19.9% during the first quarter. Farther Finance Advisors LLC now owns 3,359 shares of the industrial products company's stock valued at $835,000 after acquiring an additional 557 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the first quarter valued at $363,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Illinois Tool Works by 1.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company's stock valued at $1,006,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ITW. Wells Fargo & Company increased their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, October 2nd. Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Finally, Barclays raised their price target on Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $262.83.

Illinois Tool Works Stock Down 1.8%

Shares of NYSE:ITW opened at $248.19 on Friday. The stock's 50-day moving average price is $261.18 and its two-hundred day moving average price is $251.04. The firm has a market cap of $72.35 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 5.59 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

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 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.61 dividend. 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 dividend on an annualized basis and a dividend yield of 2.6%. Illinois Tool Works's dividend payout ratio (DPR) is 56.44%.

Insider Activity at Illinois Tool Works

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

About Illinois Tool Works

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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