Dearborn Partners LLC Sells 26,535 Shares of Illinois Tool Works Inc. $ITW

Dearborn Partners LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,975 shares of the industrial products company’s stock after selling 26,535 shares during the period. Illinois Tool Works comprises 1.8% of Dearborn Partners LLC’s holdings, making the stock its 15th biggest holding. Dearborn Partners LLC owned approximately 0.05% of Illinois Tool Works worth $37,081,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the second quarter valued at approximately $25,000. SOA Wealth Advisors LLC. grew its position in Illinois Tool Works by 90.9% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Saudi Central Bank purchased a new stake in Illinois Tool Works in the first quarter worth $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works during the second quarter worth $31,000. Finally, 1248 Management LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $30,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $253.35 on Thursday. The firm has a market cap of $73.50 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 10.98 and a beta of 1.14. 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 company’s 50 day moving average is $247.95 and its 200 day moving average is $253.32.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (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 business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter last year, the firm earned $3.91 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works’s payout ratio is 62.46%.

Wall Street Analyst Weigh In

Several research firms recently commented on ITW. Evercore ISI reduced their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Monday, October 27th. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a report on Monday, October 27th. Truist Financial reduced 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. Finally, Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus price target of $261.58.

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.