Insight Folios Inc Sells 144 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Insight Folios Inc lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,174 shares of the industrial products company’s stock after selling 144 shares during the period. Insight Folios Inc’s holdings in Illinois Tool Works were worth $315,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. First Trust Direct Indexing L.P. lifted its position in shares of Illinois Tool Works by 22.0% in the first quarter. First Trust Direct Indexing L.P. now owns 6,731 shares of the industrial products company’s stock valued at $1,806,000 after acquiring an additional 1,213 shares in the last quarter. Massachusetts Wealth Management raised its holdings in shares of Illinois Tool Works by 9.1% in the first quarter. Massachusetts Wealth Management now owns 7,179 shares of the industrial products company’s stock worth $1,926,000 after buying an additional 600 shares during the period. Norden Group LLC raised its holdings in shares of Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the first quarter worth approximately $1,062,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Illinois Tool Works during the 1st quarter worth $159,000. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were 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 of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.26% of the stock is owned by insiders.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $0.48 on Thursday, hitting $235.99. 475,351 shares of the company were exchanged, compared to its average volume of 1,025,234. The stock has a market capitalization of $70.42 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The company has a 50-day moving average price of $242.56 and a 200 day moving average price of $253.38. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on ITW shares. Citigroup raised their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Barclays reduced their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $254.00.

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.