Janney Montgomery Scott LLC Has $53.22 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Janney Montgomery Scott LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,597 shares of the industrial products company's stock after selling 6,320 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Illinois Tool Works worth $53,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. F M Investments LLC increased its stake in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after purchasing an additional 42 shares during the last quarter. Trust Co of the South grew its holdings in 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 worth $367,000 after purchasing an additional 42 shares during the period. Harbour Investments Inc. increased its position in 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 worth $937,000 after buying an additional 44 shares during the last quarter. Integrated Advisors Network LLC raised its stake in Illinois Tool Works by 0.8% in 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 buying an additional 45 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after buying an additional 46 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, the director now owns 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $244.29 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market cap of $71.58 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 4.56 and a beta of 1.10. The stock has a fifty day moving average price of $241.65 and a 200-day moving average price of $251.74.

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

Illinois Tool Works Announces Dividend

The firm 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial dropped their price target on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group dropped their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Evercore ISI reduced their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Barclays lowered their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $253.42.

Illinois Tool Works Company 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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