Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Increased by Waverly Advisors LLC

Waverly Advisors LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 484.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,009 shares of the industrial products company’s stock after buying an additional 10,783 shares during the period. Waverly Advisors LLC’s holdings in Illinois Tool Works were worth $3,491,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Caxton Associates LP raised its stake in shares of Illinois Tool Works by 114.6% during the first quarter. Caxton Associates LP now owns 10,280 shares of the industrial products company’s stock valued at $2,758,000 after purchasing an additional 5,490 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $4,065,000. Ascent Group LLC lifted its stake in shares of Illinois Tool Works by 12.4% in the 1st quarter. Ascent Group LLC now owns 3,580 shares of the industrial products company’s stock valued at $961,000 after purchasing an additional 394 shares during the last quarter. BOKF NA raised its holdings in Illinois Tool Works by 2.6% during the first quarter. BOKF NA now owns 16,476 shares of the industrial products company’s stock valued at $4,370,000 after buying an additional 416 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of Illinois Tool Works by 15.0% in the 1st quarter. Kestra Advisory Services LLC now owns 61,664 shares of the industrial products company’s stock valued at $16,549,000 after acquiring an additional 8,027 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW stock traded up $0.72 during trading hours on Tuesday, reaching $248.74. The company had a trading volume of 1,303,399 shares, compared to its average volume of 1,168,662. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market cap of $74.22 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.77 and a beta of 1.10. The business has a fifty day simple moving average of $240.87 and a 200-day simple moving average of $251.25. 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 released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $2.33 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.14 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works’s payout ratio is currently 55.23%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group lowered their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $259.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Citigroup increased their target price 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, Barclays cut their target price on shares of 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. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $253.30.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Company 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.