Olistico Wealth LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Olistico Wealth LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 199 shares of the industrial products company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently added to or reduced their stakes in 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 purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth $26,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. Security National Bank purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Truist Financial cut their target price on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $250.75.

Illinois Tool Works Trading Down 0.6 %

NYSE:ITW traded down $1.51 during mid-day trading on Wednesday, reaching $236.86. The company’s stock had a trading volume of 821,727 shares, compared to its average volume of 1,174,507. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company’s fifty day simple moving average is $240.94 and its two-hundred day simple moving average is $250.83. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.94. The stock has a market cap of $70.68 billion, a P/E ratio of 23.51, a P/E/G ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 55.23%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the acquisition, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

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.