Carson Advisory Inc. Buys 45 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Carson Advisory Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,552 shares of the industrial products company’s stock after acquiring an additional 45 shares during the quarter. Carson Advisory Inc.’s holdings in Illinois Tool Works were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Townsquare Capital LLC raised its holdings in Illinois Tool Works by 3.6% in the third quarter. Townsquare Capital LLC now owns 6,750 shares of the industrial products company’s stock worth $1,555,000 after purchasing an additional 232 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Illinois Tool Works by 2.3% during the third quarter. Integrated Wealth Concepts LLC now owns 9,548 shares of the industrial products company’s stock worth $2,199,000 after acquiring an additional 215 shares in the last quarter. Advisors Capital Management LLC boosted its stake in Illinois Tool Works by 5.6% during the third quarter. Advisors Capital Management LLC now owns 1,867 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 99 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Illinois Tool Works during the third quarter valued at approximately $58,000. Finally, Comerica Bank lifted its holdings in shares of Illinois Tool Works by 365.2% during the third quarter. Comerica Bank now owns 81,358 shares of the industrial products company’s stock valued at $18,737,000 after purchasing an additional 63,870 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial cut their price objective on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Barclays lowered their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Wells Fargo & Company reduced their target price on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a report on Wednesday. Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $252.44.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded up $1.85 during mid-day trading on Wednesday, reaching $235.91. 859,157 shares of the company traded hands, compared to its average volume of 1,177,651. The company’s 50 day moving average price is $241.38 and its 200-day moving average price is $252.52. The firm has a market cap of $70.40 billion, a PE ratio of 23.27, a PEG ratio of 3.45 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion for 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 business’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.19 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

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.