Olistico Wealth LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Olistico Wealth LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 199 shares of the industrial products company’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc increased its stake in Illinois Tool Works by 0.7% in the second quarter. Sage Capital Advisors llc now owns 20,926 shares of the industrial products company’s stock valued at $4,959,000 after purchasing an additional 137 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its holdings in shares of Illinois Tool Works by 0.8% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 60,510 shares of the industrial products company’s stock valued at $14,338,000 after acquiring an additional 453 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Illinois Tool Works by 0.7% in the 2nd quarter. Trust Co. of Vermont now owns 42,996 shares of the industrial products company’s stock worth $10,188,000 after purchasing an additional 279 shares in the last quarter. Birch Capital Management LLC grew its position in Illinois Tool Works by 1.3% in the 2nd quarter. Birch Capital Management LLC now owns 9,586 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 124 shares during the period. Finally, Bank & Trust Co bought a new stake in Illinois Tool Works during the 2nd quarter valued at $2,553,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW traded down $1.51 during trading hours on Wednesday, reaching $236.86. 821,727 shares of the stock traded hands, compared to its average volume of 1,174,507. The stock has a 50 day simple moving average of $240.94 and a two-hundred day simple moving average of $250.83. The company has a market cap of $70.68 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $2.41 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.53%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial cut their price target 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. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $250.75.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of the company’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 completion of the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

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.