Burling Wealth Partners LLC Has $4.15 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Burling Wealth Partners LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 29.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,737 shares of the industrial products company's stock after selling 6,977 shares during the period. Burling Wealth Partners LLC's holdings in Illinois Tool Works were worth $4,151,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $26,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works during the first quarter worth approximately $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its position in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $2.48 during midday trading on Friday, reaching $255.22. 1,029,438 shares of the company traded hands, compared to its average volume of 995,476. The firm 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 stock's 50-day simple moving average is $248.77 and its 200-day simple moving average is $249.55. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (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%. The business's revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned $2.44 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced 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%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ITW shares. Truist Financial decreased their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. UBS Group reduced their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays increased their price objective on Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Citigroup increased their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus target price of $253.83.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 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, for a total transaction of $210,291.52. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% of the company's stock.

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.