O Shaughnessy Asset Management LLC Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

O Shaughnessy Asset Management LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 29.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,733 shares of the industrial products company’s stock after buying an additional 9,175 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Illinois Tool Works were worth $10,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Financial LLC increased its stake in Illinois Tool Works by 1.6% in the fourth quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 41 shares during the last quarter. Hanson & Doremus Investment Management boosted its holdings in shares of Illinois Tool Works by 4.6% in the 1st quarter. Hanson & Doremus Investment Management now owns 958 shares of the industrial products company’s stock valued at $257,000 after buying an additional 42 shares in the last quarter. Catalyst Financial Partners LLC grew its position in shares of Illinois Tool Works by 2.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock valued at $463,000 after buying an additional 43 shares during the last quarter. First Pacific Financial raised its stake in Illinois Tool Works by 1.3% during the 1st quarter. First Pacific Financial now owns 3,334 shares of the industrial products company’s stock worth $895,000 after acquiring an additional 44 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 3.0% in the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 44 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW traded down $2.32 during trading on Tuesday, hitting $243.07. The stock had a trading volume of 642,921 shares, compared to its average volume of 1,172,103. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The firm has a market capitalization of $72.53 billion, a P/E ratio of 24.21, a PEG ratio of 3.69 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The company’s 50-day moving average price is $241.42 and its 200 day moving average price is $251.66.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.16 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Barclays dropped their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial lowered their target price on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $252.10.

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.