Van Strum & Towne Inc. Buys 1,000 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Van Strum & Towne Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 62.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,590 shares of the industrial products company's stock after buying an additional 1,000 shares during the period. Van Strum & Towne Inc.'s holdings in Illinois Tool Works were worth $642,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. F M Investments LLC grew its position in Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after buying an additional 42 shares during the period. Trust Co of the South boosted its position in shares of Illinois Tool Works by 2.9% in 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. Integrated Advisors Network LLC boosted its position in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after acquiring an additional 45 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Illinois Tool Works by 3.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after acquiring an additional 46 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its position in shares of Illinois Tool Works by 3.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,323 shares of the industrial products company's stock worth $337,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $1.24 during midday trading on Monday, hitting $256.39. The company's stock had a trading volume of 19,462 shares, compared to its average volume of 984,514. The business's 50 day simple moving average is $249.03 and its 200 day simple moving average is $249.53. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The company has a market cap of $75.12 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 5.40 and a beta of 1.09. 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 posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 92.77% and a net margin of 21.37%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research report on Wednesday, May 7th. Truist Financial lowered 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. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Finally, Barclays raised their target price on shares of Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $255.67.

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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