Intellectus Partners LLC Acquires New Position in Illinois Tool Works Inc. (NYSE:ITW)

Intellectus Partners LLC bought 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 SEC. The fund bought 2,368 shares of the industrial products company's stock, valued at approximately $591,000.

A number of other large investors have also modified their holdings of ITW. Brighton Jones LLC lifted its holdings in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after acquiring an additional 277 shares during the period. Stratos Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 3.8% in the fourth quarter. Stratos Wealth Advisors LLC now owns 1,881 shares of the industrial products company's stock valued at $477,000 after purchasing an additional 69 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Illinois Tool Works by 19.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,997 shares of the industrial products company's stock worth $9,470,000 after buying an additional 6,113 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its position in Illinois Tool Works by 10.1% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 2,629 shares of the industrial products company's stock worth $671,000 after buying an additional 242 shares during the period. Finally, Adero Partners LLC increased its holdings in Illinois Tool Works by 13.0% in the fourth quarter. Adero Partners LLC now owns 931 shares of the industrial products company's stock valued at $236,000 after buying an additional 107 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. acquired 872 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director now directly owns 122,884 shares in the company, 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 link. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $247.69 on Friday. The company has a 50-day simple moving average of $239.64 and a 200-day simple moving average of $253.22. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market cap of $72.57 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. 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 released its 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. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the previous year, the company earned $2.44 EPS. Illinois Tool Works's revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. 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 currently 52.77%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group lowered their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Citigroup lowered their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Evercore ISI cut their price target on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research note on Monday, May 19th. Robert W. Baird boosted 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 report on Thursday, May 1st. Finally, Truist Financial dropped their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and an average target price 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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