Aviso Financial Inc. Purchases 240 Shares of Illinois Tool Works Inc. $ITW

Aviso Financial Inc. increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,125 shares of the industrial products company’s stock after acquiring an additional 240 shares during the quarter. Aviso Financial Inc.’s holdings in Illinois Tool Works were worth $775,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in Illinois Tool Works in the first quarter valued at approximately $214,000. OneAscent Financial Services LLC lifted its stake in Illinois Tool Works by 25.8% in the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock valued at $416,000 after buying an additional 341 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Illinois Tool Works by 42.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company’s stock valued at $1,450,000 after buying an additional 1,698 shares in the last quarter. Sowell Financial Services LLC bought a new position in Illinois Tool Works in the first quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Illinois Tool Works by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company’s stock valued at $10,242,000 after buying an additional 4,560 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 872 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director directly owned 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 0.3%

ITW stock opened at $259.45 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The company’s 50-day simple moving average is $254.08 and its 200 day simple moving average is $250.04. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a market capitalization of $75.63 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 5.58 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company posted $2.54 earnings per share. Illinois Tool Works’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.59%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $283.00 price target on the stock. in a research note on Thursday, July 31st. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective on the stock. in a research report on Wednesday, May 7th. Evercore ISI cut their price objective on shares of Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research report on Monday, May 19th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, UBS Group boosted their price objective on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $259.33.

Illinois Tool Works 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.