Seamount Financial Group Inc. Raises Stock Position in Illinois Tool Works Inc. $ITW

Seamount Financial Group Inc. lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,488 shares of the industrial products company’s stock after acquiring an additional 114 shares during the quarter. Seamount Financial Group Inc.’s holdings in Illinois Tool Works were worth $862,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mraz Amerine & Associates Inc. purchased a new stake in Illinois Tool Works during the second quarter worth $457,000. Belpointe Asset Management LLC raised its stake in shares of Illinois Tool Works by 10.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,724 shares of the industrial products company’s stock worth $921,000 after buying an additional 346 shares during the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Illinois Tool Works by 5.3% in the 2nd quarter. Confluence Wealth Services Inc. now owns 4,128 shares of the industrial products company’s stock worth $1,020,000 after buying an additional 207 shares in the last quarter. Appleton Partners Inc. MA grew its stake in Illinois Tool Works by 21.5% in the 2nd quarter. Appleton Partners Inc. MA now owns 1,768 shares of the industrial products company’s stock valued at $437,000 after acquiring an additional 313 shares during the last quarter. Finally, PUREfi Wealth LLC increased its holdings in Illinois Tool Works by 17.1% during the 2nd quarter. PUREfi Wealth LLC now owns 1,266 shares of the industrial products company’s stock valued at $313,000 after acquiring an additional 185 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITW. Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a research report on Tuesday, August 19th. UBS Group increased their target price on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Barclays lifted their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $261.58.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $258.76 on Tuesday. The company has a market cap of $75.43 billion, a P/E ratio of 22.68, a P/E/G ratio of 5.75 and a beta of 1.10. The business has a fifty day simple moving average of $261.41 and a 200-day simple moving average of $251.05. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 56.44%.

About Illinois Tool Works

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.