Dumont & Blake Investment Advisors LLC Trims Position in Illinois Tool Works Inc. (NYSE:ITW)

Dumont & Blake Investment Advisors LLC reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 19.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,232 shares of the industrial products company’s stock after selling 999 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Illinois Tool Works were worth $1,136,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $28,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $28,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.4 %

Shares of Illinois Tool Works stock traded up $0.96 during trading hours on Friday, hitting $236.96. 3,403,554 shares of the company’s stock traded hands, compared to its average volume of 1,001,118. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a market cap of $70.71 billion, a PE ratio of 23.37, a PEG ratio of 3.52 and a beta of 1.11. 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 stock has a 50 day simple moving average of $243.51 and a 200-day simple moving average of $253.84.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the firm earned $2.33 EPS. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 775 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Truist Financial raised their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted 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 note on Wednesday, April 17th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Barclays lowered 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. Finally, Wells Fargo & Company cut their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Four investment 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.