Illinois Tool Works Inc. $ITW Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,736,010 shares of the industrial products company’s stock after selling 61,045 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.29% of Illinois Tool Works worth $974,202,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $821,888,000. Laurel Wealth Advisors LLC boosted its position in Illinois Tool Works by 24,625.1% during the second quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock worth $84,913,000 after purchasing an additional 342,042 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Illinois Tool Works by 1.3% in 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 buying an additional 335,955 shares in the last quarter. Invesco Ltd. raised its stake in shares of Illinois Tool Works by 9.1% during the 2nd quarter. Invesco Ltd. now owns 2,220,345 shares of the industrial products company’s stock worth $548,980,000 after buying an additional 185,416 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 1.9% during the 2nd 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 in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In related 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 transaction of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $263.56 on Friday. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $278.13. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 14.16 and a beta of 1.15. The business has a fifty day moving average of $250.14 and a two-hundred day moving average of $254.83.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, topping 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 company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Analysts Set New Price Targets

ITW has been the subject of several recent analyst reports. Wolfe Research boosted their price target on shares of Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a report on Thursday. The Goldman Sachs Group cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and cut their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Truist Financial lowered their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Finally, Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $255.00 in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $261.08.

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.