Acima Private Wealth LLC Has $794,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• Acima Private Wealth LLC sold 1,400 shares of Illinois Tool Works Inc., reducing its stake by 30.4% to 3,200 shares valued at $794,000.
• Illinois Tool Works recently increased its quarterly dividend to $1.61 per share, up from $1.50, reflecting a 2.5% dividend yield.
• Wall Street analysts have mixed opinions on Illinois Tool Works, with a consensus rating of "Hold" and a target price of $259.33.

Acima Private Wealth LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 30.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the industrial products company's stock after selling 1,400 shares during the quarter. Acima Private Wealth LLC's holdings in Illinois Tool Works were worth $794,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock valued at $5,123,080,000 after buying an additional 2,057,872 shares during the period. Auto Owners Insurance Co raised its position in shares of Illinois Tool Works by 55,978.4% in the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock valued at $354,654,000 after acquiring an additional 1,427,450 shares during the period. Cerity Partners LLC raised its position in shares of Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock valued at $229,269,000 after acquiring an additional 655,341 shares during the period. Northern Trust Corp grew its holdings in Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after purchasing an additional 508,188 shares during the period. Finally, Federated Hermes Inc. increased its stake in Illinois Tool Works by 1,899.3% in the fourth quarter. Federated Hermes Inc. now owns 224,921 shares of the industrial products company's stock valued at $57,031,000 after purchasing an additional 213,671 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Activity

In related news, Director David Byron Smith, Jr. acquired 872 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ITW has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Evercore ISI lowered their price target on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Citigroup raised their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $259.33.

Illinois Tool Works Stock Down 0.3%

Shares of ITW stock traded down $0.88 during trading on Thursday, reaching $256.63. The company's stock had a trading volume of 1,021,158 shares, compared to its average volume of 1,028,293. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business has a fifty day moving average price of $252.05 and a 200-day moving average price of $250.15. The company has a market cap of $74.81 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 5.55 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works's payout ratio is presently 52.59%.

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.