Smith Chas P & Associates PA Cpas Grows Stock Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Smith Chas P & Associates PA Cpas increased its stake in Illinois Tool Works Inc. by 3.9%, now owning 135,137 shares valued at approximately $33.4 million, making it the firm's 25th largest position.
• Illinois Tool Works reported $2.58 earnings per share for Q2, exceeding expectations, and has declared a quarterly dividend of $1.61 per share, up from the previous $1.50.
• Analysts have mixed views on Illinois Tool Works, with price targets ranging from $235 to $265 and a consensus rating of "Reduce," indicating cautious sentiment towards the stock.

Smith Chas P & Associates PA Cpas raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 135,137 shares of the industrial products company's stock after buying an additional 5,109 shares during the period. Illinois Tool Works comprises approximately 1.9% of Smith Chas P & Associates PA Cpas' holdings, making the stock its 25th largest position. Smith Chas P & Associates PA Cpas' holdings in Illinois Tool Works were worth $33,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of Illinois Tool Works by 3.0% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,665 shares of the industrial products company's stock worth $412,000 after purchasing an additional 48 shares during the period. GC Wealth Management RIA LLC bought a new position in Illinois Tool Works in the 2nd quarter worth approximately $487,000. Uncommon Cents Investing LLC grew its stake in Illinois Tool Works by 1.2% during the second quarter. Uncommon Cents Investing LLC now owns 16,910 shares of the industrial products company's stock valued at $4,181,000 after acquiring an additional 208 shares in the last quarter. Spirepoint Private Client LLC grew its position in shares of Illinois Tool Works by 134.4% during the second quarter. Spirepoint Private Client LLC now owns 8,025 shares of the industrial products company's stock valued at $1,984,000 after purchasing an additional 4,602 shares in the last quarter. Finally, ORG Wealth Partners LLC increased its stake in Illinois Tool Works by 17.2% in the 2nd quarter. ORG Wealth Partners LLC now owns 1,293 shares of the industrial products company's stock worth $330,000 after acquiring an additional 190 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 1.3%

Shares of ITW opened at $261.32 on Monday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a market capitalization of $76.17 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 5.63 and a beta of 1.10. The stock's 50-day moving average price is $261.42 and its 200-day moving average price is $250.80. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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 firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $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 year.

Illinois Tool Works Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup increased their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. UBS Group upped their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased 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, Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the stock an "underperform" rating in a research report on Tuesday, August 19th. One 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. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $260.67.

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 sale, the chief accounting officer directly owned 10,314 shares of the company's stock, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

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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