Austin Private Wealth LLC Acquires 74 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Austin Private Wealth LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 6.8% in the first quarter, Holdings Channel reports. The institutional investor owned 1,163 shares of the industrial products company’s stock after buying an additional 74 shares during the period. Austin Private Wealth LLC’s holdings in Illinois Tool Works were worth $307,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock valued at $1,590,000 after buying an additional 84 shares during the last quarter. Rockline Wealth Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth approximately $4,180,000. Nomura Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after purchasing an additional 12,065 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in Illinois Tool Works by 23.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Ziegler Capital Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth approximately $224,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW traded up $2.19 during midday trading on Monday, hitting $242.59. 1,292,400 shares of the company traded hands, compared to its average volume of 1,181,289. The stock has a 50-day moving average of $244.49 and a 200-day moving average of $254.22. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The firm has a market cap of $72.39 billion, a P/E ratio of 23.92, a PEG ratio of 3.62 and a beta of 1.11. 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 (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. Illinois Tool Works’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.22 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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 given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 28th. 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. bought 775 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. 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. Truist Financial raised 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 report on Wednesday, May 1st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $256.44.

View Our Latest Research Report on ITW

Illinois Tool Works Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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