Diversify Advisory Services LLC Has $466,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Diversify Advisory Services LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,993 shares of the industrial products company’s stock after selling 191 shares during the quarter. Diversify Advisory Services LLC’s holdings in Illinois Tool Works were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. lifted its position in Illinois Tool Works by 1.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the period. PEAK6 Investments LLC lifted its holdings in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Illinois Tool Works during the first quarter worth about $1,147,000. Norden Group LLC increased its holdings in shares of Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Illinois Tool Works by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after acquiring an additional 12,065 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought 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 approximately $29,018,062.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $0.56 during trading on Friday, reaching $239.21. The company’s stock had a trading volume of 652,590 shares, compared to its average volume of 1,168,759. The firm has a market cap of $71.38 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. 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 50 day moving average of $240.94 and a 200-day moving average of $250.46.

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

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.50 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.51%. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Analysts Set New Price Targets

A number of research firms have commented on ITW. Jefferies Financial Group lowered their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays dropped their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $250.75.

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.