Tred Avon Family Wealth LLC Takes Position in Illinois Tool Works Inc. $ITW

Tred Avon Family Wealth LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,968 shares of the industrial products company’s stock, valued at approximately $774,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Frazier Financial Advisors LLC bought a new stake in Illinois Tool Works during the 2nd quarter valued at $25,000. SOA Wealth Advisors LLC. raised its stake in shares of 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 valued at $26,000 after acquiring an additional 50 shares during the last quarter. Corsicana & Co. purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $26,000. Vermillion & White Wealth Management Group LLC increased its holdings in 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 valued at $31,000 after purchasing an additional 63 shares during the period. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Illinois Tool Works during the 2nd quarter valued at approximately $31,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.6%

Shares of NYSE:ITW opened at $263.56 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The stock has a fifty day simple moving average of $250.14 and a two-hundred day simple 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. The stock has a market capitalization of $76.46 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 14.16 and a beta of 1.15.

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 for the quarter, beating the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on ITW. Truist Financial reduced their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Wolfe Research boosted their price objective on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. 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 report on Monday, November 17th. Finally, The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $258.00 to $230.00 in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price 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.