First City Capital Management Inc. Has $495,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

First City Capital Management Inc. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 62.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,997 shares of the industrial products company's stock after selling 3,345 shares during the quarter. First City Capital Management Inc.'s holdings in Illinois Tool Works were worth $495,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. F M Investments LLC increased its holdings in shares of Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after acquiring an additional 42 shares in the last quarter. Trust Co of the South increased its holdings in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 42 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after acquiring an additional 44 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after acquiring an additional 45 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.6%

ITW stock opened at $247.69 on Friday. The stock's fifty day simple moving average is $239.64 and its two-hundred day simple moving average is $253.22. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market cap of $72.57 billion, a P/E ratio of 21.13, a P/E/G ratio of 4.56 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's revenue was down 3.4% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. Illinois Tool Works's payout ratio is presently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The shares were purchased 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 now directly owns 122,884 shares in the company, 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 SEC, which is accessible through this link. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Citigroup cut their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Truist Financial cut their target price 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $253.42.

About Illinois Tool Works

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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