Brendel Financial Advisors LLC Increases Position in Illinois Tool Works Inc. $ITW

Brendel Financial Advisors LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1,328.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,929 shares of the industrial products company’s stock after buying an additional 12,954 shares during the quarter. Illinois Tool Works makes up approximately 1.9% of Brendel Financial Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Brendel Financial Advisors LLC’s holdings in Illinois Tool Works were worth $3,632,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the 2nd quarter worth approximately $25,000. SOA Wealth Advisors LLC. raised its stake in shares of 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 purchasing an additional 50 shares during the last quarter. Corsicana & Co. purchased a new stake in shares of Illinois Tool Works during the third quarter worth approximately $26,000. 1248 Management LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new position in Illinois Tool Works in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, Director Pamela B. Strobel sold 1,521 shares of the 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 sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 0.6%

ITW opened at $250.73 on Wednesday. The business’s fifty day moving average is $248.24 and its two-hundred day moving average is $254.13. 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 market cap of $72.74 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 11.23 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.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on ITW. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. The Goldman Sachs Group cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and cut their price target for the stock from $258.00 to $230.00 in a report on Tuesday, December 16th. Truist Financial reduced their price objective on shares of 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. Wells Fargo & Company dropped their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Finally, Evercore ISI reduced their price target 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. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $259.25.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.