Lbp Am Sa Acquires New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Lbp Am Sa purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,254 shares of the industrial products company’s stock, valued at approximately $1,410,000.

Other large investors have also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. boosted its position in Illinois Tool Works by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after acquiring an additional 84 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $1,147,000. Norden Group LLC boosted its holdings in shares of Illinois Tool Works by 1,889.1% in the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock valued at $7,103,000 after buying an additional 25,144 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Illinois Tool Works by 6.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after buying an additional 12,065 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after buying an additional 16,216 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITW. Barclays cut their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday. Truist Financial cut their price objective on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group cut their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Stifel Nicolaus dropped their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday. Four investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $253.00.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 775 shares of the stock in a transaction on 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 $29,018,062.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW traded down $5.02 during trading hours on Thursday, reaching $242.26. The company’s stock had a trading volume of 1,205,625 shares, compared to its average volume of 1,176,778. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. The firm has a market cap of $72.29 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 3.74 and a beta of 1.10. The company’s 50-day moving average is $240.85 and its 200-day moving average is $251.19. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.41 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.3 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

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.