Illinois Tool Works Inc. $ITW Shares Bought by Shelton Capital Management

Shelton Capital Management lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1,577.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,484 shares of the industrial products company's stock after purchasing an additional 23,965 shares during the quarter. Shelton Capital Management's holdings in Illinois Tool Works were worth $6,301,000 at the end of the most recent quarter.

• Boring is Beautiful, Illinois Tool Works Stock Fits the Bill

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Norges Bank acquired a new position in Illinois Tool Works during the second quarter worth about $821,888,000. Nuveen LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $293,928,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Illinois Tool Works by 12.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company's stock worth $938,822,000 after acquiring an additional 415,982 shares during the period. Laurel Wealth Advisors LLC raised its holdings in Illinois Tool Works by 24,625.1% during the second quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company's stock worth $84,913,000 after purchasing an additional 342,042 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company's stock worth $6,607,453,000 after purchasing an additional 335,955 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Monday, October 27th. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Illinois Tool Works in a report on Friday, October 31st. The Goldman Sachs Group set a $258.00 price target on shares of Illinois Tool Works in a research report on Monday, October 27th. Finally, Evercore ISI cut their price objective on Illinois Tool Works from $261.00 to $253.00 and set an "underperform" rating for the company in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $263.77.

View Our Latest Research Report on ITW

Insider Activity

In other 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 transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 6,802 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares in the company, valued at $2,734,035.12. This represents a 39.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $247.48 on Tuesday. The company has a 50-day simple moving average of $249.49 and a 200-day simple moving average of $253.27. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market cap of $71.79 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 4.10 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.98.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. Illinois Tool Works's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a $1.61 dividend. This represents a $6.44 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Illinois Tool Works's dividend payout ratio is presently 62.46%.

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.

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