Everpar Advisors LLC Has $637,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Everpar Advisors LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the first quarter, HoldingsChannel reports. The firm owned 2,568 shares of the industrial products company’s stock after selling 179 shares during the period. Everpar Advisors LLC’s holdings in Illinois Tool Works were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. F M Investments LLC raised its stake in shares of Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock worth $227,000 after buying an additional 42 shares during the last quarter. Trust Co of the South raised its stake in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock worth $367,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after buying an additional 44 shares during the last quarter. Integrated Advisors Network LLC increased its stake in 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 in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ITW shares. UBS Group lowered their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. Barclays lowered their target price on shares of 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. Evercore ISI lowered their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research note on Monday, May 19th. Finally, Robert W. Baird upped their target price on shares of 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 assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $253.42.

Illinois Tool Works Stock Down 1.9%

Illinois Tool Works stock opened at $241.23 on Friday. The stock has a market capitalization of $70.68 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 50 day moving average of $241.11 and a 200-day moving average of $252.30.

Illinois Tool Works (NYSE:ITW) last announced its 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 business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is 52.77%.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. purchased 872 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was purchased 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 now directly owns 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

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.