Dividend Assets Capital LLC Sells 701 Shares of Illinois Tool Works Inc. (NYSE:ITW)


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Dividend Assets Capital LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,261 shares of the industrial products company’s stock after selling 701 shares during the period. Dividend Assets Capital LLC’s holdings in Illinois Tool Works were worth $1,608,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Radnor Capital Management LLC lifted its stake in Illinois Tool Works by 0.7% in the fourth quarter. Radnor Capital Management LLC now owns 7,734 shares of the industrial products company’s stock worth $1,577,000 after purchasing an additional 50 shares during the last quarter. San Francisco Sentry Investment Group CA increased its position in shares of Illinois Tool Works by 0.4% in the first quarter. San Francisco Sentry Investment Group CA now owns 12,515 shares of the industrial products company’s stock valued at $2,772,000 after acquiring an additional 50 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of Illinois Tool Works by 32.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 208 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 51 shares during the period. TrinityPoint Wealth LLC increased its position in shares of Illinois Tool Works by 2.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,560 shares of the industrial products company’s stock valued at $511,000 after acquiring an additional 51 shares during the period. Finally, Mcdonald Partners LLC increased its position in shares of Illinois Tool Works by 1.3% in the first quarter. Mcdonald Partners LLC now owns 4,150 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 52 shares during the period. 77.44% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ITW traded up $2.17 during midday trading on Tuesday, hitting $235.73. The stock had a trading volume of 3,388 shares, compared to its average volume of 1,112,929. The company has a market capitalization of $74.60 billion, a price-to-earnings ratio of 35.39, a PEG ratio of 3.88 and a beta of 1.07. The company has a fifty day moving average price of $223.56 and a 200 day moving average price of $209.38. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. Illinois Tool Works Inc. has a 1-year low of $148.66 and a 1-year high of $235.00.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, April 30th. The industrial products company reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.21. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.43 billion. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 6.42 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were given a $1.14 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $4.56 annualized dividend and a dividend yield of 1.93%. Illinois Tool Works’s dividend payout ratio is currently 58.84%.

Several equities analysts recently issued reports on the stock. UBS Group upgraded shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and boosted their price target for the company from $211.00 to $232.00 in a research report on Monday, January 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $217.00 to $227.00 and gave the stock a “hold” rating in a report on Monday. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $214.00 to $229.00 and gave the stock a “neutral” rating in a report on Friday. BMO Capital Markets upped their target price on shares of Illinois Tool Works from $225.00 to $235.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, The Goldman Sachs Group upgraded shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and upped their target price for the stock from $195.00 to $217.00 in a research note on Tuesday, January 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $214.59.

In other news, VP Norman D. Jr. Finch sold 7,232 shares of the business’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of Illinois Tool Works stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $205.37, for a total value of $252,810.47. Following the completion of the sale, the chief executive officer now directly owns 295,172 shares in the company, valued at approximately $60,619,473.64. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Further Reading: Street Name

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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