B. Riley Wealth Advisors Inc. Has $2.93 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

B. Riley Wealth Advisors Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,930 shares of the industrial products company’s stock after buying an additional 1,017 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Illinois Tool Works were worth $2,933,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in Illinois Tool Works by 30.2% in the first quarter. Janus Henderson Group PLC now owns 51,969 shares of the industrial products company’s stock valued at $13,945,000 after acquiring an additional 12,051 shares during the period. Waverly Advisors LLC increased its stake in Illinois Tool Works by 484.4% in the first quarter. Waverly Advisors LLC now owns 13,009 shares of the industrial products company’s stock valued at $3,491,000 after acquiring an additional 10,783 shares during the period. Caxton Associates LP grew its stake in Illinois Tool Works by 114.6% during the first quarter. Caxton Associates LP now owns 10,280 shares of the industrial products company’s stock worth $2,758,000 after buying an additional 5,490 shares during the last quarter. Paloma Partners Management Co bought a new stake in Illinois Tool Works during the first quarter worth about $4,065,000. Finally, Ascent Group LLC grew its stake in Illinois Tool Works by 12.4% during the first quarter. Ascent Group LLC now owns 3,580 shares of the industrial products company’s stock worth $961,000 after buying an additional 394 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.8 %

Shares of NYSE:ITW opened at $247.28 on Thursday. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The company’s fifty day simple moving average is $240.85 and its 200 day simple moving average is $251.19. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.74 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.3 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Friday, June 28th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Truist Financial decreased their price target on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays decreased their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a report on Wednesday. Four 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $253.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by insiders.

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.