Weaver C. Barksdale & Associates Inc. Sells 139 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Weaver C. Barksdale & Associates Inc. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 8,062 shares of the industrial products company’s stock after selling 139 shares during the quarter. Illinois Tool Works accounts for approximately 1.8% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 24th biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Illinois Tool Works were worth $1,910,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Steele Capital Management Inc. lifted its stake in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Illinois Tool Works by 3.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock worth $400,000 after buying an additional 44 shares during the period. Carson Advisory Inc. lifted its holdings in Illinois Tool Works by 3.0% during the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after buying an additional 45 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its position in Illinois Tool Works by 0.8% in the 1st quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Truist Financial decreased their target price on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Price Performance

ITW opened at $257.95 on Friday. The firm has a market capitalization of $76.97 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The business’s 50-day moving average is $246.07 and its two-hundred day moving average is $248.32. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm earned $2.41 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

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.