Dumont & Blake Investment Advisors LLC Sells 999 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Dumont & Blake Investment Advisors LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,232 shares of the industrial products company’s stock after selling 999 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Illinois Tool Works were worth $1,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC grew its position in shares of Illinois Tool Works by 2.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 41 shares during the period. Summit Financial LLC raised 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 buying an additional 41 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Illinois Tool Works by 2.5% in the fourth 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. PFG Advisors boosted its stake 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 acquiring an additional 46 shares during the period. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Illinois Tool Works by 1.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Barclays decreased their price target on shares of 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. Wells Fargo & Company cut their price objective on shares of 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. Stifel Nicolaus upped their target price 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. Finally, Citigroup lifted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. 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. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $256.44.

Illinois Tool Works Price Performance

ITW traded up $0.96 during trading on Friday, hitting $236.96. 3,403,554 shares of the stock traded hands, compared to its average volume of 1,001,118. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a market cap of $70.71 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 3.52 and a beta of 1.11. The business has a 50 day moving average price of $243.51 and a 200 day moving average price of $253.84.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the company posted $2.33 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts forecast 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 disclosed 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. This represents a $5.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

About Illinois Tool Works

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.