SeaCrest Wealth Management LLC Has $460,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

SeaCrest Wealth Management LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,715 shares of the industrial products company’s stock after selling 472 shares during the period. SeaCrest Wealth Management LLC’s holdings in Illinois Tool Works were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. grew its position in Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares in the last quarter. Rockline Wealth Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $4,180,000. Nomura Asset Management Co. Ltd. lifted its holdings in Illinois Tool Works by 6.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after acquiring an additional 12,065 shares during the period. Wesbanco Bank Inc. boosted its position in Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Ziegler Capital Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $224,000. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Barclays decreased their price target on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Citigroup increased their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $254.00.

Illinois Tool Works Stock Performance

Shares of ITW opened at $235.52 on Wednesday. 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 stock has a market capitalization of $70.28 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The stock’s 50-day simple moving average is $243.18 and its 200 day simple moving average is $253.66.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.26 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced 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 is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.38%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Insider Buying and Selling 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 dated Thursday, June 13th. The stock was bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.26% of the company’s stock.

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.