Nwam LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 36.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 916 shares of the industrial products company’s stock after selling 523 shares during the period. Nwam LLC’s holdings in Illinois Tool Works were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ITW. Bell Investment Advisors Inc acquired a new stake in shares of Illinois Tool Works in the third quarter valued at $28,000. Ritter Daniher Financial Advisory LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Eagle Bay Advisors LLC boosted its stake in shares of Illinois Tool Works by 106.0% in the third quarter. Eagle Bay Advisors LLC now owns 138 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 71 shares during the period. Allegheny Financial Group LTD acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $29,000. Finally, Amplius Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 79.03% of the company’s stock.
ITW stock opened at $203.39 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $206.36 and its 200 day moving average price is $223.93. Illinois Tool Works Inc. has a 52 week low of $195.25 and a 52 week high of $249.81. The company has a market cap of $63.34 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.50 and a beta of 1.07.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio is currently 57.34%.
In related news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total value of $205,340.00. Following the sale, the executive vice president now directly owns 7,803 shares in the company, valued at approximately $1,602,268.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.78% of the company’s stock.
ITW has been the topic of a number of recent research reports. Stifel Nicolaus cut their price objective on Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating on the stock in a research report on Monday, April 18th. JPMorgan Chase & Co. upgraded Illinois Tool Works from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $262.00 to $255.00 in a research note on Monday, March 28th. Morgan Stanley dropped their price objective on shares of Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating on the stock in a research note on Thursday, April 7th. Credit Suisse Group cut their price target on Illinois Tool Works from $267.00 to $261.00 in a research note on Wednesday, May 4th. Finally, Barclays cut their price objective on shares of Illinois Tool Works from $200.00 to $192.00 in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $233.50.
About Illinois Tool Works (Get Rating)
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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