GoalVest Advisory LLC Has $647,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

GoalVest Advisory LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 2,288.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,412 shares of the industrial products company’s stock after purchasing an additional 2,311 shares during the period. GoalVest Advisory LLC’s holdings in Illinois Tool Works were worth $647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock valued at $1,590,000 after purchasing an additional 84 shares during the period. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $4,180,000. Nomura Asset Management Co. Ltd. increased its position in shares of Illinois Tool Works by 6.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after acquiring an additional 12,065 shares during the last quarter. Wesbanco Bank Inc. increased its position in shares of Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 1,152 shares during the last quarter. Finally, Ziegler Capital Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $224,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, Director David Byron Smith, Jr. acquired 775 shares of the stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the transaction, the director now directly owns 121,506 shares in the company, valued at $29,018,062.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ITW. Citigroup lifted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted 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. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company reduced their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Finally, Truist Financial lifted their price target on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Four equities research 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, the company currently has an average rating of “Hold” and a consensus price target of $256.44.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $4.64 during midday trading on Tuesday, reaching $237.95. The company’s stock had a trading volume of 793,809 shares, compared to its average volume of 1,178,087. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The business’s 50 day moving average price is $244.23 and its two-hundred day moving average price is $254.14. The company has a market cap of $71.00 billion, a P/E ratio of 23.47, a P/E/G ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.03 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Illinois Tool Works Inc. will post 10.22 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.35%. Illinois Tool Works’s payout ratio is 55.23%.

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.