Atomi Financial Group Inc. Has $753,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Atomi Financial Group Inc. increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 163.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,805 shares of the industrial products company’s stock after acquiring an additional 1,739 shares during the quarter. Atomi Financial Group Inc.’s holdings in Illinois Tool Works were worth $753,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ITW. NTV Asset Management LLC increased its stake in shares of Illinois Tool Works by 47.6% in the 1st quarter. NTV Asset Management LLC now owns 1,860 shares of the industrial products company’s stock valued at $499,000 after acquiring an additional 600 shares in the last quarter. Forsta AP Fonden increased its stake in Illinois Tool Works by 24.4% during the 1st quarter. Forsta AP Fonden now owns 95,200 shares of the industrial products company’s stock valued at $25,545,000 after purchasing an additional 18,700 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Illinois Tool Works by 36.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 68,799 shares of the industrial products company’s stock valued at $18,461,000 after purchasing an additional 18,269 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Illinois Tool Works by 1.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 12,757 shares of the industrial products company’s stock valued at $3,423,000 after purchasing an additional 203 shares in the last quarter. Finally, PFG Advisors increased its stake in Illinois Tool Works by 1.1% during the 1st quarter. PFG Advisors now owns 6,725 shares of the industrial products company’s stock valued at $1,804,000 after purchasing an additional 70 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. purchased 775 shares of Illinois Tool Works stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus upped 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. Truist Financial reduced their price target on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Barclays dropped their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Finally, Jefferies Financial Group dropped their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $251.20.

Illinois Tool Works Trading Up 0.7 %

ITW stock traded up $1.62 on Monday, reaching $247.55. The company’s stock had a trading volume of 469,729 shares, compared to its average volume of 1,169,398. The business has a fifty day simple moving average of $241.39 and a two-hundred day simple moving average of $252.17. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $73.87 billion, a PE ratio of 24.25, a PEG ratio of 3.62 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.19 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were issued a $1.40 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

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.