Marshall Financial Group LLC Has $1.20 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Marshall Financial Group LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,826 shares of the industrial products company’s stock after buying an additional 139 shares during the quarter. Marshall Financial Group LLC’s holdings in Illinois Tool Works were worth $1,197,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in Illinois Tool Works by 5.7% in the fourth quarter. Essex Financial Services Inc. now owns 2,355 shares of the industrial products company’s stock valued at $597,000 after buying an additional 128 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth $49,000. Sovran Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $398,000. Finally, Portfolio Design Labs LLC increased its holdings in Illinois Tool Works by 56.5% in the fourth quarter. Portfolio Design Labs LLC now owns 1,643 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 593 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

NYSE ITW opened at $245.89 on Friday. The firm’s 50 day moving average is $240.64 and its 200-day moving average is $252.54. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $72.05 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. 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 posted its quarterly earnings data 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 company 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 21.94% and a return on equity of 95.39%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 $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 yield of 2.44%. Illinois Tool Works’s dividend payout ratio is 52.77%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ITW. Truist Financial cut their price target on shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Evercore ISI lowered their price objective on shares of 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. Stifel Nicolaus lifted their target price on Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Finally, 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 note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $253.42.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. acquired 872 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was bought 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 approximately $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

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.