Trifecta Capital Advisors LLC Has $1.60 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Trifecta Capital Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,948 shares of the industrial products company’s stock after purchasing an additional 46 shares during the period. Trifecta Capital Advisors LLC’s holdings in Illinois Tool Works were worth $1,596,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at about $29,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $0.96 during trading on Friday, hitting $236.96. The stock had a trading volume of 3,403,554 shares, compared to its average volume of 1,001,118. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock’s 50 day moving average is $243.51 and its two-hundred day moving average is $253.82. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The stock has a market cap of $70.71 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 775 shares of Illinois Tool Works stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial upped their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Citigroup boosted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $256.44.

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.