Illinois Tool Works Inc. $ITW Shares Acquired by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 111.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,276 shares of the industrial products company’s stock after purchasing an additional 8,569 shares during the period. Huntleigh Advisors Inc.’s holdings in Illinois Tool Works were worth $4,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter worth $25,000. Corsicana & Co. acquired a new stake in Illinois Tool Works during the third quarter worth about $26,000. SOA Wealth Advisors LLC. raised its stake 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 purchasing an additional 50 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in shares of Illinois Tool Works by 103.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $254.43 on Wednesday. The stock has a market capitalization of $73.81 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 14.16 and a beta of 1.15. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The business has a 50-day moving average of $250.71 and a 200 day moving average of $254.83. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13.

Illinois Tool Works (NYSE:ITW) last issued 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 net margin of 19.05% and a return on equity of 93.26%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the firm earned $3.91 earnings per share. The business’s revenue for the quarter 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, sell-side 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 was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction 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 transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ITW. Barclays upped their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Wolfe Research upped their price target on Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Truist Financial decreased their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Finally, The Goldman Sachs Group lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $261.08.

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.