Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Valley Brook Capital Group Inc.

Valley Brook Capital Group Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 5,740 shares of the industrial products company’s stock after selling 41 shares during the quarter. Illinois Tool Works comprises about 1.1% of Valley Brook Capital Group Inc.’s holdings, making the stock its 27th largest position. Valley Brook Capital Group Inc.’s holdings in Illinois Tool Works were worth $1,424,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ITW. Brighton Jones LLC raised its stake in shares of Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after purchasing an additional 277 shares during the last quarter. Bridgewater Associates LP purchased a new position in Illinois Tool Works in the fourth quarter worth $1,310,000. Jump Financial LLC raised its position in Illinois Tool Works by 132.2% in the fourth quarter. Jump Financial LLC now owns 2,006 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 1,142 shares in the last quarter. Farringdon Capital Ltd. purchased a new position in Illinois Tool Works in the fourth quarter worth $243,000. Finally, Dimensional Fund Advisors LP raised its position in Illinois Tool Works by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,710,825 shares of the industrial products company’s stock worth $433,817,000 after acquiring an additional 108,050 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

NYSE ITW opened at $258.43 on Friday. The firm has a market capitalization of $75.33 billion, a P/E ratio of 22.65, a P/E/G ratio of 5.58 and a beta of 1.09. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The business’s 50-day simple moving average is $253.84 and its 200-day simple moving average is $250.10.

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

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio (DPR) is 56.44%.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on ITW shares. Robert W. Baird increased their price objective 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. Citigroup raised their price target 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. Evercore ISI dropped their price target on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research report on Monday, May 19th. Wells Fargo & Company raised their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus increased their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $259.33.

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.