Dearborn Partners LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,510 shares of the industrial products company's stock after selling 24,633 shares during the period. Illinois Tool Works comprises about 2.1% of Dearborn Partners LLC's portfolio, making the stock its 5th largest holding. Dearborn Partners LLC owned 0.06% of Illinois Tool Works worth $43,776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter worth about $26,000. Glass Jacobson Investment Advisors llc boosted 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 buying an additional 84 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $35,000. Institutional investors own 79.77% of the company's stock.
Illinois Tool Works Price Performance
Shares of NYSE:ITW traded down $4.06 during midday trading on Friday, hitting $251.91. The stock had a trading volume of 1,236,431 shares, compared to its average volume of 1,107,026. The company's 50-day moving average price is $250.93 and its 200-day moving average price is $250.15. The company has a market capitalization of $73.81 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 5.29 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.
Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.
Insider Transactions at Illinois Tool Works
In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The shares were purchased at an average cost 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 $29,634,705.44. The trade was a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts recently commented on ITW shares. Citigroup lifted 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. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. 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 note on Thursday. UBS Group lifted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Barclays lifted their price objective on shares of Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $259.08.
Check Out Our Latest Research Report on ITW
Illinois Tool Works Profile
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Free Report)
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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