Illinois Tool Works Inc. $ITW Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 635,288 shares of the industrial products company’s stock after selling 24,604 shares during the quarter. Corient Private Wealth LLC’s holdings in Illinois Tool Works were worth $157,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted its position in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Saudi Central Bank acquired a new position in Illinois Tool Works during the first quarter worth $29,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new position in shares of Illinois Tool Works during the 1st quarter worth $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, 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 transaction of $373,025.25. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ITW shares. The Goldman Sachs Group set a $258.00 price objective on shares of Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Monday, October 27th. Finally, Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus price target of $261.58.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $258.07 on Monday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $278.13. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The company has a 50 day moving average price of $247.85 and a 200 day moving average price of $253.58. The stock 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 (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the company earned $3.91 earnings per share. The firm’s quarterly 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. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

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.