NBW Capital LLC Has $6.91 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• NBW Capital LLC reduced its stake in Illinois Tool Works by 21.3% in Q1, selling 7,546 shares, leaving them with approximately $6.91 million worth of shares.
• Director David Byron Smith, Jr. purchased 872 shares at a price of $241.16 each, increasing his ownership by 0.71% to a total value of around $29.63 million.
• Illinois Tool Works announced an increase in its quarterly dividend from $1.50 to $1.61, reflecting a 2.5% yield and a payout ratio of 52.59%.

NBW Capital LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,855 shares of the industrial products company's stock after selling 7,546 shares during the quarter. Illinois Tool Works comprises approximately 1.5% of NBW Capital LLC's holdings, making the stock its 20th largest holding. NBW Capital LLC's holdings in Illinois Tool Works were worth $6,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its holdings in Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after buying an additional 508,188 shares during the period. Capital Research Global Investors lifted its holdings in shares of Illinois Tool Works by 1.8% during the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after acquiring an additional 71,934 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Illinois Tool Works by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company's stock valued at $627,176,000 after purchasing an additional 11,854 shares during the last quarter. GAMMA Investing LLC grew its stake in Illinois Tool Works by 26,372.8% during the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after buying an additional 2,057,872 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Illinois Tool Works by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock worth $522,110,000 after buying an additional 209,671 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Up 0.1%

Shares of ITW stock traded up $0.20 on Friday, hitting $256.98. The stock had a trading volume of 541,078 shares, compared to its average volume of 1,024,470. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm has a market cap of $74.91 billion, a P/E ratio of 22.52, a PEG ratio of 5.54 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 company has a fifty day moving average price of $252.29 and a two-hundred day moving average price of $250.06.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm earned $2.54 EPS. Illinois Tool Works's quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's payout ratio is presently 52.59%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. Truist Financial downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price target on the stock. in a research report on Thursday, July 31st. Barclays upped their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a report on Wednesday, May 7th. 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 stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $259.33.

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.