Nisa Investment Advisors LLC Sells 1,774 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Nisa Investment Advisors LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,897 shares of the industrial products company’s stock after selling 1,774 shares during the period. Nisa Investment Advisors LLC’s holdings in Illinois Tool Works were worth $28,102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. Rakuten Securities Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth $29,000. Christopher J. Hasenberg Inc purchased a new stake in Illinois Tool Works in the first quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the first quarter worth about $34,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling 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 dated Thursday, June 13th. The shares were purchased at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the transaction, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded up $0.44 during trading on Monday, hitting $242.38. 334,013 shares of the stock traded hands, compared to its average volume of 1,151,215. 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 has a fifty day moving average price of $240.80 and a two-hundred day moving average price of $249.56. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ITW shares. Truist Financial cut their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI cut their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday. Barclays lowered their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $250.22.

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.