Kathmere Capital Management LLC Has $992,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Kathmere Capital Management LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,698 shares of the industrial products company’s stock after acquiring an additional 340 shares during the quarter. Kathmere Capital Management LLC’s holdings in Illinois Tool Works were worth $992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC grew its stake in Illinois Tool Works by 13.4% in the first quarter. Tsfg LLC now owns 932 shares of the industrial products company’s stock valued at $250,000 after acquiring an additional 110 shares during the period. Atlantic Union Bankshares Corp grew its holdings in shares of Illinois Tool Works by 0.9% during the first quarter. Atlantic Union Bankshares Corp now owns 22,385 shares of the industrial products company’s stock valued at $6,007,000 after buying an additional 202 shares during the last quarter. Investment Partners LTD. bought a new stake in shares of Illinois Tool Works during the first quarter worth about $203,000. Wealth Enhancement Advisory Services LLC boosted its stake in Illinois Tool Works by 13.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 78,992 shares of the industrial products company’s stock valued at $21,196,000 after purchasing an additional 9,275 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in Illinois Tool Works by 6.0% during the 1st quarter. Cardinal Capital Management now owns 39,088 shares of the industrial products company’s stock worth $10,542,000 after purchasing an additional 2,204 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITW. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Truist Financial raised their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Finally, 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 report on Tuesday, June 4th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $256.44.

Illinois Tool Works Trading Down 0.2 %

Shares of Illinois Tool Works stock opened at $236.84 on Friday. The company’s 50-day moving average price is $243.51 and its 200-day moving average price is $253.82. The company has a market cap of $70.67 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 3.53 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $2.33 EPS. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

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.