Signal Advisors Wealth LLC Has $225,000 Stake in Illinois Tool Works Inc. $ITW

Key Points

• Signal Advisors Wealth LLC has reduced its holdings in Illinois Tool Works Inc. by 52.1%, selling 992 shares to bring its total to 911 shares valued at approximately $225,000.
• The company recently declared a quarterly dividend of $1.61, which marks an increase from the previous dividend of $1.50, offering an annualized yield of 2.5%.
• Shares of Illinois Tool Works are currently priced around $261.91, with several analysts updating their price targets for the stock, ranging from $250 to $283.

Signal Advisors Wealth LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 52.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 911 shares of the industrial products company's stock after selling 992 shares during the period. Signal Advisors Wealth LLC's holdings in Illinois Tool Works were worth $225,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sivia Capital Partners LLC acquired a new position in shares of Illinois Tool Works during the 1st quarter worth about $214,000. OneAscent Financial Services LLC lifted its position in shares of Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after purchasing an additional 341 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of Illinois Tool Works by 8.3% during the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company's stock worth $210,000 after purchasing an additional 65 shares during the last quarter. Sowell Financial Services LLC bought a new position in Illinois Tool Works during the first quarter valued at about $946,000. Finally, Advisory Alpha LLC bought a new position in Illinois Tool Works during the first quarter valued at about $259,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ITW shares. Barclays boosted their price target on Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note 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 lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a research note on Thursday, July 31st. Citigroup boosted their price target 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. Finally, Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Reduce" and an average price target of $260.67.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Up 0.0%

Shares of ITW stock traded up $0.09 during trading hours on Tuesday, reaching $260.98. The company had a trading volume of 266,960 shares, compared to its average volume of 1,059,146. The company has a 50 day moving average of $261.15 and a 200 day moving average of $250.69. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a market cap of $76.08 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 5.65 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating 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 firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio (DPR) is 52.59%.

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.