Cambridge Advisors Inc. Sells 450 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cambridge Advisors Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,440 shares of the industrial products company’s stock after selling 450 shares during the quarter. Cambridge Advisors Inc.’s holdings in Illinois Tool Works were worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Security National Bank bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $29,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $236.84 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The firm has a market capitalization of $70.67 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11. The company’s 50-day moving average is $243.51 and its 200 day moving average is $253.82.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. Research analysts forecast that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several research reports. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Truist Financial increased their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup increased their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $256.44.

Illinois Tool Works 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.