Montag A & Associates Inc. Sells 808 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Montag A & Associates Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,245 shares of the industrial products company’s stock after selling 808 shares during the period. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $1,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at $28,000. Security National Bank purchased a new stake in Illinois Tool Works during the 4th quarter valued at $28,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth $29,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group dropped their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday. Stifel Nicolaus raised their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Citigroup raised their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $251.20.

Illinois Tool Works Trading Up 0.5 %

Shares of Illinois Tool Works stock traded up $1.28 during trading hours on Monday, hitting $247.21. The company’s stock had a trading volume of 321,193 shares, compared to its average volume of 1,168,469. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The firm has a fifty day moving average of $241.39 and a 200-day moving average of $252.17. The stock has a market cap of $73.77 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 3.62 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.19 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Insider Transactions at Illinois Tool Works

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

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.