Montag A & Associates Inc. Sells 808 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Montag A & Associates Inc. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,245 shares of the industrial products company’s stock after selling 808 shares during the period. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $1,954,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter worth approximately $26,000. Security National Bank bought a new position in Illinois Tool Works in the fourth quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $28,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. 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. Truist Financial cut their price objective on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group lowered their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $251.20.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now 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 available at the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 0.5 %

Shares of Illinois Tool Works stock traded up $1.28 during mid-day trading on Monday, hitting $247.21. 321,193 shares of the stock were exchanged, compared to its average volume of 1,168,469. The stock has a market capitalization of $73.77 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.62 and a beta of 1.10. 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 Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a 50-day simple moving average of $241.39 and a 200 day simple moving average of $252.17.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion for 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 revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.19 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) 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.