Tobam Has $194,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Tobam trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 30.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 783 shares of the industrial products company’s stock after selling 335 shares during the period. Tobam’s holdings in Illinois Tool Works were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Liberty Capital Management Inc. lifted its position in Illinois Tool Works by 0.3% in the 1st quarter. Liberty Capital Management Inc. now owns 22,247 shares of the industrial products company’s stock valued at $5,517,000 after acquiring an additional 76 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Illinois Tool Works by 35.5% in the first quarter. Simon Quick Advisors LLC now owns 3,045 shares of the industrial products company’s stock valued at $755,000 after purchasing an additional 798 shares in the last quarter. Coerente Capital Management raised its position in Illinois Tool Works by 0.8% in the 1st quarter. Coerente Capital Management now owns 101,807 shares of the industrial products company’s stock valued at $25,249,000 after buying an additional 794 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in Illinois Tool Works by 4.7% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 7,822 shares of the industrial products company’s stock worth $1,940,000 after acquiring an additional 352 shares during the last quarter. Finally, Trinity Financial Advisors LLC raised its holdings in shares of Illinois Tool Works by 40.6% in the first quarter. Trinity Financial Advisors LLC now owns 2,530 shares of the industrial products company’s stock valued at $627,000 after purchasing an additional 730 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ITW has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Robert W. Baird upped their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Barclays lowered their price target on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research 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 for the company. in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works Price Performance

NYSE:ITW opened at $241.23 on Friday. The company has a market cap of $70.68 billion, a P/E ratio of 20.58, a P/E/G ratio of 4.56 and a beta of 1.10. The firm’s fifty day moving average price is $241.11 and its two-hundred day moving average price is $252.30. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Illinois Tool Works’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.49%. Illinois Tool Works’s payout ratio is currently 52.77%.

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.