Cerity Partners LLC Purchases 17,187 Shares of Illinois Tool Works Inc. $ITW

Cerity Partners LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 947,224 shares of the industrial products company’s stock after buying an additional 17,187 shares during the quarter. Cerity Partners LLC’s holdings in Illinois Tool Works were worth $234,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the 2nd quarter valued at $25,000. SOA Wealth Advisors LLC. grew its holdings in shares of 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 worth $26,000 after purchasing an additional 50 shares during the last quarter. Saudi Central Bank bought a new position in shares of Illinois Tool Works in the first quarter worth about $29,000. 1248 Management LLC purchased a new position in Illinois Tool Works in the 1st quarter worth about $30,000. Finally, Banque Transatlantique SA bought a new stake in Illinois Tool Works during the 1st quarter valued at about $30,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer directly 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 SEC, which is available at this link. Also, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $249.67 on Friday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $278.13. The stock’s 50-day moving average is $248.65 and its 200 day moving average is $253.21. The company has a market cap of $72.43 billion, a P/E ratio of 24.22, a PEG ratio of 11.12 and a beta of 1.14. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the company posted $3.91 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Evercore ISI lowered their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Truist Financial cut their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Finally, Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works has a consensus 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.