FORA Capital LLC Acquires 13,274 Shares of Illinois Tool Works Inc. $ITW

FORA Capital LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1,353.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,255 shares of the industrial products company’s stock after acquiring an additional 13,274 shares during the quarter. FORA Capital LLC’s holdings in Illinois Tool Works were worth $3,525,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Illinois Tool Works by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after purchasing an additional 335,955 shares during the last quarter. State Street Corp boosted its stake in Illinois Tool Works by 0.9% during the second quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock worth $3,103,167,000 after buying an additional 108,919 shares during the period. Geode Capital Management LLC increased its position in Illinois Tool Works by 1.9% during the second quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock valued at $1,670,246,000 after acquiring an additional 122,990 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Illinois Tool Works by 12.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock valued at $938,822,000 after acquiring an additional 415,982 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 2.3% in the 2nd quarter. Fisher Asset Management LLC now owns 3,595,146 shares of the industrial products company’s stock worth $888,900,000 after acquiring an additional 80,527 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITW. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Wells Fargo & Company cut their target price on 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 decreased their price target on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. Finally, Evercore ISI decreased their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $261.58.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction that occurred on 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 represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.3%

ITW opened at $258.07 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock’s fifty day moving average is $247.85 and its two-hundred day moving average is $253.51. The company has a market capitalization of $74.87 billion, a P/E ratio of 25.03, a PEG ratio of 11.49 and a beta of 1.14. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13.

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. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $1.61 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s payout ratio is currently 62.46%.

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.