Federated Hermes Inc. Sells 5,869 Shares of Illinois Tool Works Inc. $ITW

Federated Hermes Inc. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 212,176 shares of the industrial products company’s stock after selling 5,869 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Illinois Tool Works worth $52,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITW. Brighton Jones LLC grew its stake in shares of 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 worth $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC raised its holdings 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 purchasing an additional 81 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Illinois Tool Works during the 1st quarter valued at $210,000. Townsquare Capital LLC lifted its holdings in Illinois Tool Works by 23.5% in the first quarter. Townsquare Capital LLC now owns 11,628 shares of the industrial products company’s stock valued at $2,884,000 after acquiring an additional 2,216 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in Illinois Tool Works in the first quarter worth about $103,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pamela B. Strobel sold 1,521 shares of the firm’s 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 sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $247.86 on Tuesday. The company’s 50-day simple moving average is $248.38 and its two-hundred day simple moving average is $253.29. The company has a market capitalization of $71.91 billion, a P/E ratio of 24.04, a P/E/G ratio of 11.12 and a beta of 1.14. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $278.13. 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 posted its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the company earned $3.91 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITW. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. The Goldman Sachs Group set a $258.00 target price on Illinois Tool Works in a research note on Monday, October 27th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Monday, October 27th. Truist Financial lowered their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $261.58.

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.