Yousif Capital Management LLC Lowers Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Yousif Capital Management LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,954 shares of the industrial products company's stock after selling 1,607 shares during the quarter. Yousif Capital Management LLC's holdings in Illinois Tool Works were worth $16,853,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. F M Investments LLC lifted its position in Illinois Tool Works by 4.9% in 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 last quarter. Trust Co of the South lifted its position in 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 valued at $367,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of 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 period. Integrated Advisors Network LLC increased its stake 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 buying an additional 45 shares during the period. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Price Performance

NYSE:ITW traded down $2.49 during trading hours on Wednesday, hitting $246.51. The company's stock had a trading volume of 727,681 shares, compared to its average volume of 1,011,550. The business's 50-day moving average is $239.72 and its two-hundred day moving average is $252.80. The company has a market capitalization of $72.23 billion, a PE ratio of 21.03, a PEG ratio of 4.56 and a beta of 1.10. 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 52-week low of $214.66 and a 52-week high of $279.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research note on Wednesday, May 7th. Truist Financial dropped their price target on shares of 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. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird increased their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Barclays dropped 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 research note on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Illinois Tool Works has an average rating of "Hold" and a consensus target price of $253.42.

Insider Activity

In other news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the transaction, the director now directly owns 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.88% of the company's stock.

Illinois Tool Works 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.