XML Financial LLC Has $983,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

XML Financial LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,964 shares of the industrial products company’s stock after acquiring an additional 307 shares during the quarter. XML Financial LLC’s holdings in Illinois Tool Works were worth $983,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Prudent Man Investment Management Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at $25,000. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Glass Jacobson Investment Advisors llc raised its position in shares of 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 worth $28,000 after acquiring an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $31,000. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays decreased 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 report on Thursday, May 1st. Citigroup decreased their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their target price 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. 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. Finally, UBS Group lowered their price objective on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works Stock Up 1.5%

Shares of NYSE:ITW opened at $244.33 on Tuesday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The business’s 50 day simple moving average is $242.55 and its two-hundred day simple moving average is $250.54. The firm has a market cap of $71.59 billion, a P/E ratio of 21.49, a PEG ratio of 5.18 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate 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 21.37% and a return on equity of 92.77%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared 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 2.46%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The stock was purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director now directly owns 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

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.