Circle Wealth Management LLC Has $8.77 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Circle Wealth Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,860 shares of the industrial products company’s stock after selling 1,231 shares during the period. Illinois Tool Works accounts for approximately 1.2% of Circle Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Circle Wealth Management LLC’s holdings in Illinois Tool Works were worth $8,765,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ITW. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $31,000. Lansing Street Advisors acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $34,000. DeDora Capital Inc. acquired a new stake in shares of Illinois Tool Works in the 1st quarter valued at approximately $35,000. Intelligent Financial Strategies acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $37,000. Finally, Activest Wealth Management raised its position in shares of Illinois Tool Works by 468.8% in the 1st quarter. Activest Wealth Management now owns 182 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. 79.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird set a $213.00 target price on Illinois Tool Works in a research note on Tuesday, August 2nd. Jefferies Financial Group lowered their target price on Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Barclays lowered their target price on Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating for the company in a research note on Friday, July 8th. Wells Fargo & Company increased their target price on Illinois Tool Works from $180.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Finally, UBS Group cut Illinois Tool Works from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $243.00 to $185.00 in a research note on Friday, July 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.00.

Illinois Tool Works Stock Up 1.3 %

Illinois Tool Works stock opened at $206.51 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.48 and a quick ratio of 1.02. The company’s 50-day moving average is $198.82 and its 200-day moving average is $201.56. The firm has a market capitalization of $63.94 billion, a PE ratio of 24.50, a P/E/G ratio of 2.82 and a beta of 1.12. Illinois Tool Works Inc. has a fifty-two week low of $173.52 and a fifty-two week high of $249.81.

Illinois Tool Works (NYSE:ITWGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.15. Illinois Tool Works had a return on equity of 75.41% and a net margin of 17.44%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 9.08 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $1.31 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.22. This represents a $5.24 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, September 29th. Illinois Tool Works’s payout ratio is currently 57.89%.

Illinois Tool Works Profile

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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.

Further Reading

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

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