Bryn Mawr Capital Management LLC Sells 4,424 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bryn Mawr Capital Management LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 75.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,430 shares of the industrial products company's stock after selling 4,424 shares during the period. Bryn Mawr Capital Management LLC's holdings in Illinois Tool Works were worth $355,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at $214,000. EP Wealth Advisors LLC boosted its stake in shares of Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after purchasing an additional 1,698 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at $946,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after purchasing an additional 4,560 shares in the last quarter. Finally, Alteri Wealth LLC acquired a new position in Illinois Tool Works during the 4th quarter worth about $224,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 1.0%

Shares of ITW stock traded down $2.48 on Friday, reaching $255.22. The company had a trading volume of 1,029,438 shares, compared to its average volume of 1,101,303. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25. The stock has a market cap of $74.78 billion, a PE ratio of 22.45, a PEG ratio of 5.43 and a beta of 1.09. The company has a 50-day moving average of $248.77 and a 200-day moving average of $249.55. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. Illinois Tool Works's revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

ITW has been the topic of several research reports. Bank of America downgraded shares of 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. Truist Financial reduced their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup upped their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday. UBS Group reduced their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird upped their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $253.83.

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.