Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by DE Burlo Group Inc.

Key Points

• DE Burlo Group Inc. reduced its stake in Illinois Tool Works Inc. by 54.6% in Q1, selling 1,400 shares and bringing its total holdings to 1,163 shares valued at approximately $288,000.
• The company announced a quarterly dividend of $1.50 per share, reflecting an annualized dividend of $6.00 and a yield of 2.29%.
• Analysts have varied ratings for Illinois Tool Works, with some lowering their price targets; the average target price is currently $255.67, and the stock holds an overall rating of "Hold."

DE Burlo Group Inc. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 54.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,163 shares of the industrial products company's stock after selling 1,400 shares during the period. DE Burlo Group Inc.'s holdings in Illinois Tool Works were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sivia Capital Partners LLC bought a new stake in Illinois Tool Works in the first quarter worth $214,000. OneAscent Financial Services LLC lifted its stake in shares of Illinois Tool Works by 25.8% during the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after purchasing an additional 341 shares during the last quarter. EP Wealth Advisors LLC raised 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 buying an additional 1,698 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Illinois Tool Works during the 1st quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Illinois Tool Works by 12.3% during 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 buying an additional 4,560 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

Shares of ITW traded down $1.75 during midday trading on Monday, reaching $259.95. 754,768 shares of the stock were exchanged, compared to its average volume of 1,090,588. The company has a market capitalization of $76.17 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 5.52 and a beta of 1.09. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The business's 50-day moving average price is $250.18 and its 200 day moving average price is $249.92.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were 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 was Monday, June 30th. Illinois Tool Works's payout ratio is currently 52.77%.

Analyst Ratings Changes

A number of brokerages recently commented on ITW. Wells Fargo & Company upped their target price on Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. 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. Truist Financial cut their price target on 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. UBS Group decreased their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Stifel Nicolaus raised their price objective on Illinois Tool Works from $233.00 to $255.00 and gave the company a "hold" rating in a report on Monday, July 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus price target of $255.67.

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.