Windle Wealth LLC Raises Position in Illinois Tool Works Inc. (NYSE:ITW)

Windle Wealth LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,720 shares of the industrial products company’s stock after purchasing an additional 934 shares during the period. Illinois Tool Works makes up about 3.5% of Windle Wealth LLC’s portfolio, making the stock its 21st biggest holding. Windle Wealth LLC’s holdings in Illinois Tool Works were worth $6,875,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the first quarter worth $26,000. Finally, Glass Jacobson Investment Advisors llc grew its stake in shares of Illinois Tool Works by 336.0% in 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 in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore ISI decreased 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. Bank of America cut 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 report on Wednesday, May 7th. UBS Group lowered their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Citigroup increased their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Robert W. Baird increased their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Three equities research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.67.

Illinois Tool Works Trading Up 0.5%

NYSE ITW traded up $1.21 during mid-day trading on Monday, reaching $256.36. 42,798 shares of the stock were exchanged, compared to its average volume of 1,093,376. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The business’s fifty day simple moving average is $249.03 and its 200 day simple moving average is $249.53. The stock has a market capitalization of $75.11 billion, a PE ratio of 22.55, a PEG ratio of 5.40 and a beta of 1.09. 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 (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 analysts’ consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. Illinois Tool Works’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a $1.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the firm’s stock in a transaction that occurred on 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 owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

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.