Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by ORG Partners LLC

ORG Partners LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 606.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,504 shares of the industrial products company’s stock after acquiring an additional 1,291 shares during the period. ORG Partners LLC’s holdings in Illinois Tool Works were worth $352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ITW. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the first quarter worth $34,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related 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, for a total transaction of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW traded down $0.10 during trading on Wednesday, reaching $238.66. The stock had a trading volume of 546,001 shares, compared to its average volume of 1,159,203. The firm has a market capitalization of $71.22 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The stock has a 50 day moving average of $240.84 and a two-hundred day moving average of $250.05.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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 return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.41 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 2.51%. 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 dividend payout ratio is 59.17%.

Analyst Ratings Changes

Several research firms have weighed in on ITW. Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Truist Financial dropped their price target on 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. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays dropped their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $250.75.

Illinois Tool Works Company 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.