Radnor Capital Management LLC Has $4.34 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Radnor Capital Management LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,155 shares of the industrial products company’s stock after selling 250 shares during the period. Illinois Tool Works accounts for 0.7% of Radnor Capital Management LLC’s holdings, making the stock its 24th biggest holding. Radnor Capital Management LLC’s holdings in Illinois Tool Works were worth $4,335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $818,408,000. Vanguard Group Inc. grew its position in Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Alecta Tjanstepension Omsesidigt increased its stake in Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Illinois Tool Works by 122.7% during the fourth quarter. Corient Private Wealth LLC now owns 629,636 shares of the industrial products company’s stock worth $164,927,000 after buying an additional 346,919 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after buying an additional 313,906 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. Stifel Nicolaus raised their price target 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. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Citigroup increased their price target 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. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Barclays lowered 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 report on Tuesday, June 4th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $256.44.

Check Out Our Latest Report on Illinois Tool Works

Illinois Tool Works Stock Performance

NYSE ITW traded down $2.93 on Friday, hitting $240.40. 1,813,650 shares of the stock traded hands, compared to its average volume of 922,801. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.62 and a beta of 1.11. The business’s fifty day moving average is $244.72 and its two-hundred day moving average is $254.20. 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 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last released 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 net margin of 19.07% and a return on equity of 97.82%. 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 prior year, the firm earned $2.33 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.22 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 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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