High Net Worth Advisory Group LLC Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

High Net Worth Advisory Group LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,297 shares of the industrial products company’s stock after acquiring an additional 235 shares during the period. High Net Worth Advisory Group LLC’s holdings in Illinois Tool Works were worth $348,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $28,000. Security National Bank acquired a new stake in Illinois Tool Works during the 4th quarter valued at $28,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

NYSE ITW traded up $2.65 during trading on Monday, hitting $243.05. 77,572 shares of the company’s stock were exchanged, compared to its average volume of 1,171,135. The stock’s 50 day moving average price is $244.72 and its two-hundred day moving average price is $254.26. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The company has a market cap of $72.53 billion, a PE ratio of 23.71, a P/E/G ratio of 3.62 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Research analysts expect that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s payout ratio is currently 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITW shares. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Barclays lowered their target price on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Truist Financial upped their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $256.44.

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.