Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by D Orazio & Associates Inc.

D Orazio & Associates Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,397 shares of the industrial products company’s stock after acquiring an additional 101 shares during the period. D Orazio & Associates Inc.’s holdings in Illinois Tool Works were worth $346,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the fourth quarter worth $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the fourth quarter valued at $26,000. Glass Jacobson Investment Advisors llc lifted its holdings in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research reports. Barclays decreased their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Evercore ISI dropped their price target 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. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Truist Financial lowered their price objective on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works Stock Performance

ITW stock opened at $241.23 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $70.68 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock’s fifty day moving average is $241.11 and its two-hundred day moving average is $252.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations 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 revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 52.77%.

Insider Activity

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

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.