ORBA Wealth Advisors L.L.C. Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

ORBA Wealth Advisors L.L.C. acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,128 shares of the industrial products company's stock, valued at approximately $280,000.

Several other institutional investors have also added to or reduced their stakes in ITW. Compass Capital Management Inc. boosted its stake in shares of Illinois Tool Works by 0.7% in the 1st quarter. Compass Capital Management Inc. now owns 229,055 shares of the industrial products company's stock worth $56,808,000 after buying an additional 1,619 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Illinois Tool Works by 84.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 174,983 shares of the industrial products company's stock worth $43,397,000 after purchasing an additional 79,872 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $2,472,000. Tudor Financial Inc. increased its position in shares of Illinois Tool Works by 2.8% during the 1st quarter. Tudor Financial Inc. now owns 2,978 shares of the industrial products company's stock valued at $739,000 after purchasing an additional 80 shares during the last quarter. Finally, Marshall Financial Group LLC lifted its stake in shares of Illinois Tool Works by 3.0% in the 1st quarter. Marshall Financial Group LLC now owns 4,826 shares of the industrial products company's stock worth $1,197,000 after purchasing an additional 139 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITW has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Truist Financial cut their price objective on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus raised their target price on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Barclays cut their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $253.42.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $2.41 on Monday, hitting $243.89. 148,187 shares of the company traded hands, compared to its average volume of 1,007,420. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The business has a 50-day simple moving average of $241.11 and a 200 day simple moving average of $251.97. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $71.46 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm posted $2.44 EPS. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued 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 dividend payout ratio is presently 52.77%.

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.