Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,533 shares of the industrial products company’s stock after selling 195 shares during the period. Capital Advisors Ltd. LLC’s holdings in Illinois Tool Works were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Security National Bank acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.9 %

NYSE:ITW opened at $235.52 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The business’s 50 day moving average is $243.18 and its two-hundred day moving average is $253.66. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company has a market cap of $70.28 billion, a PE ratio of 23.23, a P/E/G ratio of 3.48 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released 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. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the business posted $2.33 EPS. Illinois Tool Works’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 10.26 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared 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 2.38%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of recent research reports. Stifel Nicolaus increased their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Citigroup increased their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Truist Financial reduced their price target on Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays reduced their price target on 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 analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $254.00.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

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.