Illinois Tool Works Inc. $ITW Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 9.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 236,864 shares of the industrial products company’s stock after buying an additional 19,520 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.08% of Illinois Tool Works worth $60,578,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after acquiring an additional 335,955 shares during the last quarter. State Street Corp boosted its stake in shares of Illinois Tool Works by 0.9% during the 2nd quarter. State Street Corp now owns 12,476,310 shares of the industrial products company’s stock worth $3,103,167,000 after purchasing an additional 108,919 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Illinois Tool Works by 1.9% in 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 buying an additional 122,990 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Illinois Tool Works by 12.3% during 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 buying an additional 415,982 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Illinois Tool Works by 2.3% during the second 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 and hedge funds.

Illinois Tool Works Trading Down 2.5%

Shares of ITW stock traded down $6.49 during mid-day trading on Tuesday, reaching $256.98. The company’s stock had a trading volume of 121,854 shares, compared to its average volume of 1,377,496. The company’s 50 day simple moving average is $250.53 and its 200-day simple moving average is $254.86. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The firm has a market capitalization of $74.55 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 14.16 and a beta of 1.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $3.91 earnings per share. The firm’s 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. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a $1.61 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Analyst Upgrades and Downgrades

ITW has been the topic of several analyst reports. Wells Fargo & Company raised their price objective on Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Barclays upped their price objective on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Wolfe Research boosted their target price on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a report on Thursday, January 15th. The Goldman Sachs Group downgraded 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 research note on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and an average price target of $261.08.

Insider Activity

In other 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 transaction of $373,025.25. Following the transaction, the director directly owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

About Illinois Tool Works

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.