ORG Partners LLC Decreases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

ORG Partners LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 94.6% during the 1st quarter, Holdings Channel reports. The firm owned 213 shares of the industrial products company’s stock after selling 3,731 shares during the quarter. ORG Partners LLC’s holdings in Illinois Tool Works were worth $57,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Security National Bank purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 2.5 %

ITW stock traded up $5.94 during mid-day trading on Friday, reaching $246.13. The company had a trading volume of 823,784 shares, compared to its average volume of 1,172,971. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market capitalization of $73.45 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The firm has a 50 day moving average of $241.35 and a 200 day moving average of $252.44. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.19 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th were given a $1.40 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works’s payout ratio is presently 55.23%.

Analysts Set New Price Targets

Several brokerages recently commented on ITW. Barclays cut their price target on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial cut their price target on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group cut their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $251.20.

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.