Capital Investment Services of America Inc. Sells 4,926 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Capital Investment Services of America Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 68,332 shares of the industrial products company’s stock after selling 4,926 shares during the period. Illinois Tool Works accounts for approximately 1.7% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 27th biggest position. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $16,947,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the 4th quarter valued at $25,000. Redwood Park Advisors LLC bought a new position in Illinois Tool Works during the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new position in Illinois Tool Works during the 4th quarter worth $26,000. Glass Jacobson Investment Advisors llc raised its position in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Illinois Tool Works during the 4th quarter worth $31,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director now directly owns 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $241.23 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a 50-day moving average of $241.11 and a 200-day moving average of $252.30. The company has a market cap of $70.68 billion, a PE ratio of 20.58, a P/E/G ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.49%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.77%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays lowered their target price on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Robert W. Baird raised their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Truist Financial decreased their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, UBS Group decreased their price target on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $253.42.

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.