Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Valeo Financial Advisors LLC

Posted by Defense World Staff on Jun 29th, 2023

Valeo Financial Advisors LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 55.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,742 shares of the industrial products company’s stock after acquiring an additional 983 shares during the period. Valeo Financial Advisors LLC’s holdings in Illinois Tool Works were worth $668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Red Tortoise LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $33,000. AXS Investments LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $40,000. Compass Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $44,000. Finally, Riverpoint Wealth Management Holdings LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $45,000. 79.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,425 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $239.23, for a total transaction of $1,297,822.75. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,121,970.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.78% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 0.6 %

Shares of NYSE:ITW opened at $248.12 on Thursday. The company’s 50-day moving average price is $234.04 and its two-hundred day moving average price is $232.17. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.20 and a quick ratio of 0.84. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $253.37. The stock has a market capitalization of $75.40 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 3.70 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Free Report) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Illinois Tool Works had a net margin of 19.27% and a return on equity of 92.13%. Illinois Tool Works’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 9.65 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 30th will be paid a $1.31 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $5.24 dividend on an annualized basis and a yield of 2.11%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ITW shares. 3M reiterated a “maintains” rating on shares of Illinois Tool Works in a research report on Wednesday, May 3rd. Barclays cut their target price on Illinois Tool Works from $205.00 to $203.00 in a research report on Wednesday, May 3rd. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $227.00 and set an “equal weight” rating on the stock in a report on Thursday, April 13th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Illinois Tool Works from $183.00 to $181.00 and set a “sell” rating on the stock in a research note on Wednesday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $228.21.

Illinois Tool Works Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.