Jones Financial Companies Lllp Sells 64,408 Shares of Illinois Tool Works Inc. $ITW

Jones Financial Companies Lllp lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 87.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,848 shares of the industrial products company’s stock after selling 64,408 shares during the quarter. Jones Financial Companies Lllp’s holdings in Illinois Tool Works were worth $2,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Trust Co of the South grew its position in shares of Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock worth $367,000 after buying an additional 42 shares during the period. Clearstead Trust LLC grew its position in shares of Illinois Tool Works by 0.9% in the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after buying an additional 43 shares during the period. Northern Financial Advisors Inc grew its position in shares of Illinois Tool Works by 1.9% in the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock worth $582,000 after buying an additional 44 shares during the period. Integrated Advisors Network LLC grew its position in shares of Illinois Tool Works by 0.8% in the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock worth $1,504,000 after buying an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Illinois Tool Works by 3.3% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock worth $355,000 after buying an additional 46 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI set a $265.00 target price on shares of Illinois Tool Works and gave the stock an “underperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Truist Financial downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price objective on the stock. in a research report on Thursday, July 31st. Barclays increased their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, UBS Group increased their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $260.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $266.50 on Friday. The firm’s 50 day moving average price is $260.58 and its 200-day moving average price is $250.89. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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. The stock has a market capitalization of $77.69 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 5.66 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business earned $2.54 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 2.4%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio is 52.59%.

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.