J. W. Coons Advisors LLC Sells 100 Shares of Illinois Tool Works Inc. (NYSE:ITW)

J. W. Coons Advisors LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,131 shares of the industrial products company’s stock after selling 100 shares during the period. Illinois Tool Works accounts for approximately 1.1% of J. W. Coons Advisors LLC’s portfolio, making the stock its 15th largest position. J. W. Coons Advisors LLC’s holdings in Illinois Tool Works were worth $4,225,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC lifted its position in Illinois Tool Works by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 41 shares during the period. Summit Financial LLC boosted its holdings in shares of Illinois Tool Works by 1.6% during the fourth quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 41 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in Illinois Tool Works by 2.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 43 shares during the period. PFG Advisors grew its holdings in shares of Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 46 shares during the period. Finally, Crestwood Advisors Group LLC raised its position in Illinois Tool Works by 1.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.2 %

Shares of ITW stock opened at $240.42 on Friday. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year 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. The firm has a market capitalization of $71.74 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11. The firm’s fifty day simple moving average is $249.04 and its 200 day simple moving average is $254.32.

Illinois Tool Works (NYSE:ITWGet Free Report) 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. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ITW shares. Truist Financial increased their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays lowered their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned 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.

Check Out Our Latest Report on Illinois Tool Works

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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