Integral Investment Advisors Inc. Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Integral Investment Advisors Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 11.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,142 shares of the industrial products company’s stock after selling 142 shares during the quarter. Integral Investment Advisors Inc.’s holdings in Illinois Tool Works were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ITW. F M Investments LLC raised its position in Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 42 shares during the period. Trust Co of the South grew its position in Illinois Tool Works by 2.9% in 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 acquiring an additional 42 shares in the last quarter. Harbour Investments Inc. grew its position in Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 44 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 45 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director now owns 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ITW. Truist Financial cut their price objective 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. UBS Group cut their price target on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays decreased their price objective on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Robert W. Baird upped their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.42.

Illinois Tool Works Stock Down 0.1%

ITW stock opened at $247.28 on Tuesday. The stock has a market cap of $72.45 billion, a P/E ratio of 21.10, a PEG ratio of 4.56 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company’s 50 day moving average is $239.53 and its two-hundred day moving average is $252.82.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the business earned $2.44 EPS. Illinois Tool Works’s revenue for the quarter was down 3.4% compared to the same quarter last year. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.43%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

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.