Randall Scheuneman Sells 6,802 Shares of Illinois Tool Works (NYSE:ITW) Stock

Key Points

• Randall Scheuneman, the CAO of Illinois Tool Works, sold 6,802 shares of the company's stock, representing a 39.74% decrease in his holdings, totaling over $1.8 million.
• Illinois Tool Works announced an increase in its quarterly dividend to $1.61, yielding approximately 2.4%, with the dividend payout ratio at 52.59%.
• The company reported $2.58 earnings per share for Q2, surpassing analysts' estimates, and has set a fiscal year 2025 guidance of between $10.350 and $10.550 EPS.

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) CAO Randall Scheuneman sold 6,802 shares of the 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 transaction, the chief accounting officer owned 10,314 shares of the company's stock, valued at $2,734,035.12. This represents a 39.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Illinois Tool Works Price Performance

ITW stock traded up $0.55 during trading on Monday, reaching $263.91. 801,048 shares of the company were exchanged, compared to its average volume of 795,666. 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's 50 day moving average price is $260.68 and its 200 day moving average price is $250.74. 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 cap of $76.93 billion, a P/E ratio of 25.95, a PEG ratio of 5.68 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same period last year, the company posted $2.54 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Shareholders of record on Tuesday, September 30th will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's dividend payout ratio is 52.59%.

Institutional Trading of Illinois Tool Works

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank & Trust Co grew its position in Illinois Tool Works by 0.4% during the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company's stock valued at $2,526,000 after acquiring an additional 39 shares during the period. Northcape Wealth Management LLC increased its stake in Illinois Tool Works by 2.1% during the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company's stock worth $475,000 after acquiring an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Illinois Tool Works by 4.2% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company's stock worth $244,000 after acquiring an additional 40 shares in the last quarter. Trust Co of the South raised its stake in shares of Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 42 shares during the period. Finally, TFG Advisers LLC raised its position in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company's stock valued at $2,092,000 after purchasing an additional 42 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ITW shares. UBS Group upped their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a 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 target on the stock. in a report on Thursday, July 31st. Stifel Nicolaus raised 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. Finally, Citigroup upped their target price 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. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $260.67.

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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