Exencial Wealth Advisors LLC Purchases New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• Exencial Wealth Advisors LLC acquired a new position in Illinois Tool Works Inc., purchasing 4,441 shares valued at approximately $1.1 million during the 1st quarter.
• The company has announced an increase in its quarterly dividend to $1.61 per share, representing an annual yield of 2.5%.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average target price of $259.33.

Exencial Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,441 shares of the industrial products company's stock, valued at approximately $1,102,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITW. Redwood Park Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in Illinois Tool Works during the 4th quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at $26,000. Glass Jacobson Investment Advisors llc grew its holdings in shares of Illinois Tool Works by 336.0% during the 4th 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 in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $35,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective for the company. in a research report on Thursday, July 31st. Robert W. Baird upped their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Barclays lifted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research note on Monday. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $259.33.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $256.63 on Friday. The company has a market capitalization of $74.81 billion, a PE ratio of 22.49, a P/E/G ratio of 5.55 and a beta of 1.09. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock has a 50-day moving average price of $252.05 and a two-hundred day moving average price of $250.15. 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 posted its 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. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $2.54 EPS. The firm's revenue was up .6% compared to the same quarter last year. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

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

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