Crossmark Global Holdings Inc. Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Crossmark Global Holdings Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,681 shares of the industrial products company's stock after selling 1,273 shares during the period. Crossmark Global Holdings Inc.'s holdings in Illinois Tool Works were worth $3,889,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new position in Illinois Tool Works in the first quarter valued at about $214,000. EP Wealth Advisors LLC boosted its stake in Illinois Tool Works by 42.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after acquiring an additional 1,698 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Illinois Tool Works in the first quarter valued at about $946,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Illinois Tool Works by 12.3% in the first 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 acquiring an additional 4,560 shares during the last quarter. Finally, Alteri Wealth LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $224,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded down $2.41 during midday trading on Friday, reaching $259.71. 745,703 shares of the stock were exchanged, compared to its average volume of 998,052. The company's fifty day moving average is $247.15 and its 200-day moving average is $249.55. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm has a market cap of $76.10 billion, a PE ratio of 22.84, a PEG ratio of 5.50 and a beta of 1.09. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director directly owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Barclays upped their price target on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Truist Financial dropped 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 note on Thursday, May 1st. Finally, UBS Group dropped 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 note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of "Hold" and a consensus price target of $252.83.

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.