TCV Trust & Wealth Management Inc. Sells 175 Shares of Illinois Tool Works Inc. (NYSE:ITW)

TCV Trust & Wealth Management Inc. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,103 shares of the industrial products company’s stock after selling 175 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Illinois Tool Works were worth $770,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Illinois Tool Works by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company’s stock valued at $10,242,000 after purchasing an additional 4,560 shares during the last quarter. Achmea Investment Management B.V. increased its position in shares of Illinois Tool Works by 31.8% during the 1st quarter. Achmea Investment Management B.V. now owns 45,656 shares of the industrial products company’s stock valued at $11,323,000 after purchasing an additional 11,011 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $204,000. Transcend Capital Advisors LLC increased its position in shares of Illinois Tool Works by 14.8% during the 1st quarter. Transcend Capital Advisors LLC now owns 1,025 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 132 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Illinois Tool Works by 6.8% during the 1st quarter. Diversified Trust Co now owns 1,638 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were bought 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 of the company’s stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

ITW stock opened at $248.09 on Friday. The firm has a market cap of $72.69 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 5.31 and a beta of 1.10. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The business’s fifty day simple moving average is $243.84 and its two-hundred day simple moving average is $250.11.

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, beating the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. Analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.42%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group reduced 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 report on Monday, April 7th. Truist Financial reduced their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Robert W. Baird increased their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Evercore ISI reduced 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 report on Monday, May 19th. Finally, Barclays reduced 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 report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $253.42.

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.