Applied Capital LLC FL Sells 115 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Applied Capital LLC FL lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,237 shares of the industrial products company’s stock after selling 115 shares during the period. Illinois Tool Works makes up about 1.8% of Applied Capital LLC FL’s investment portfolio, making the stock its 17th biggest holding. Applied Capital LLC FL’s holdings in Illinois Tool Works were worth $2,210,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cullinan Associates Inc. increased its position in shares of Illinois Tool Works by 33.0% during the first quarter. Cullinan Associates Inc. now owns 42,504 shares of the industrial products company’s stock worth $11,405,000 after acquiring an additional 10,539 shares in the last quarter. Claro Advisors LLC increased its position in shares of Illinois Tool Works by 5.4% during the first quarter. Claro Advisors LLC now owns 3,622 shares of the industrial products company’s stock worth $972,000 after acquiring an additional 187 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Illinois Tool Works by 11.0% during the first quarter. Miracle Mile Advisors LLC now owns 6,054 shares of the industrial products company’s stock worth $1,624,000 after acquiring an additional 601 shares in the last quarter. BKM Wealth Management LLC increased its position in shares of Illinois Tool Works by 9.2% during the first quarter. BKM Wealth Management LLC now owns 7,381 shares of the industrial products company’s stock worth $1,981,000 after acquiring an additional 622 shares in the last quarter. Finally, Aviance Capital Partners LLC bought a new position in Illinois Tool Works in the first quarter valued at $2,173,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded up $1.76 during mid-day trading on Tuesday, reaching $235.17. 518,312 shares of the company were exchanged, compared to its average volume of 1,185,561. The company’s 50-day simple moving average is $243.51 and its 200-day simple moving average is $253.84. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $70.17 billion, a P/E ratio of 23.10, a P/E/G ratio of 3.48 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.03 billion. During the same quarter last year, the company posted $2.33 EPS. Illinois Tool Works’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Barclays decreased their target price on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Wells Fargo & Company decreased their target price 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. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Truist Financial cut their price target on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $254.00.

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.