Carl P. Sherr & Co. LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Carl P. Sherr & Co. LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,652 shares of the industrial products company’s stock after selling 100 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Illinois Tool Works were worth $410,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. F M Investments LLC raised its position in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after buying an additional 42 shares during the period. Trust Co of the South raised its position in shares of Illinois Tool Works by 2.9% during the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock valued at $367,000 after buying an additional 42 shares during the period. Northern Financial Advisors Inc raised its position in shares of Illinois Tool Works by 1.9% during the 1st quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after buying an additional 44 shares during the period. Integrated Advisors Network LLC raised its position in shares of Illinois Tool Works by 0.8% during the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after buying an additional 45 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Illinois Tool Works by 3.3% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock valued at $355,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was bought at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $259.24 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25. The firm has a fifty day moving average price of $250.53 and a 200 day moving average price of $250.08. The company has a market cap of $75.96 billion, a P/E ratio of 22.80, a PEG ratio of 5.48 and a beta of 1.09. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 earnings per share. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.31%. Illinois Tool Works’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

A number of brokerages have issued reports on ITW. Citigroup boosted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Robert W. Baird boosted their target price on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Truist Financial cut their target price on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays boosted their target price on Illinois Tool Works from $237.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $255.67.

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.