Cwm LLC Buys 3,803 Shares of Illinois Tool Works Inc. $ITW

Cwm LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 22.0% in the third quarter, HoldingsChannel.com reports. The firm owned 21,074 shares of the industrial products company’s stock after purchasing an additional 3,803 shares during the period. Cwm LLC’s holdings in Illinois Tool Works were worth $5,495,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ITW. Modern Wealth Management LLC boosted its position in shares of Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 65 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in Illinois Tool Works by 39.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after buying an additional 19,102 shares in the last quarter. Level Four Advisory Services LLC raised its stake in Illinois Tool Works by 16.3% during the second quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock valued at $2,888,000 after buying an additional 1,638 shares during the last quarter. Swiss National Bank boosted its holdings in Illinois Tool Works by 1.3% in the second quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock worth $208,679,000 after acquiring an additional 11,200 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew 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 worth $938,822,000 after acquiring an additional 415,982 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW stock opened at $250.73 on Wednesday. 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 Inc. has a 1 year low of $214.66 and a 1 year high of $278.13. The company has a market cap of $72.74 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 11.23 and a beta of 1.14. The stock’s fifty day moving average price is $248.24 and its 200-day moving average price is $254.13.

Illinois Tool Works (NYSE:ITW) last posted its 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 company 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%.Illinois Tool Works’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.61 per share. 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 payout ratio is 62.46%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ITW. Robert W. Baird set a $265.00 price target on shares of Illinois Tool Works in a research note on Monday, October 27th. Wells Fargo & Company dropped their target price 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. Barclays increased their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Finally, 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. 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. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $259.25.

Insider Buying and Selling

In other Illinois Tool Works 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 transaction of $373,025.25. Following the completion of the sale, the director directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Company 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.