Illinois Tool Works Inc. $ITW Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 92.9% during the third quarter, HoldingsChannel reports. The fund owned 1,276 shares of the industrial products company’s stock after selling 16,711 shares during the period. Illinois Tool Works comprises 0.7% of Thurston Springer Miller Herd & Titak Inc.’s holdings, making the stock its 27th biggest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Illinois Tool Works were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Northside Capital Management LLC raised its holdings in shares of Illinois Tool Works by 3.0% in the 3rd quarter. Northside Capital Management LLC now owns 2,606 shares of the industrial products company’s stock valued at $680,000 after buying an additional 75 shares during the period. Sage Capital Advisors llc grew its position in Illinois Tool Works by 0.7% in the 3rd quarter. Sage Capital Advisors llc now owns 21,645 shares of the industrial products company’s stock valued at $5,644,000 after acquiring an additional 142 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in Illinois Tool Works by 1,000.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 180 shares in the last quarter. Old Port Advisors purchased a new stake in Illinois Tool Works during the third quarter worth about $207,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth about $131,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ITW shares. Wells Fargo & Company dropped 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. Barclays upped their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their target price for the company from $258.00 to $230.00 in a report on Tuesday. Bank of America upgraded shares of 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 report on Tuesday, November 18th. Finally, Truist Financial lowered their target price on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $259.25.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Down 3.0%

ITW opened at $250.91 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13. The business has a 50 day moving average price of $247.76 and a two-hundred day moving average price of $253.72. 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 has a market cap of $72.79 billion, a PE ratio of 24.34, a P/E/G ratio of 11.52 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.09 billion. During the same quarter in the previous year, the company posted $3.91 earnings per share. The company’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, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, December 31st. Illinois Tool Works’s payout ratio is currently 62.46%.

Illinois Tool Works 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.