Sivia Capital Partners LLC Takes $214,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 861 shares of the industrial products company’s stock, valued at approximately $214,000.

Several other institutional investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $25,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $26,000. Ameriflex Group Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $26,000. Glass Jacobson Investment Advisors llc boosted its holdings in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $31,000. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITW shares. Truist Financial dropped their target price on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Evercore ISI dropped their price objective on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a report on Monday, May 19th. Stifel Nicolaus increased their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Robert W. Baird increased their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective for the company. in a report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $253.42.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director now owns 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.1%

ITW opened at $247.28 on Tuesday. The stock has a market cap of $72.45 billion, a PE ratio of 21.10, a PEG ratio of 4.56 and a beta of 1.10. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The business has a 50 day moving average of $239.53 and a 200-day moving average of $252.82. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

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.