Marino Stram & Associates LLC Sells 69 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Marino Stram & Associates LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,955 shares of the industrial products company’s stock after selling 69 shares during the quarter. Marino Stram & Associates LLC’s holdings in Illinois Tool Works were worth $733,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Glass Jacobson Investment Advisors llc raised its holdings in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ITW shares. Citigroup reduced their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. UBS Group decreased their price objective on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research note on Wednesday, May 7th. Stifel Nicolaus increased their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Evercore ISI dropped their price target on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research note on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $253.42.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, the director now directly owns 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Down 1.3%

Illinois Tool Works stock opened at $241.15 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market cap of $70.66 billion, a PE ratio of 21.21, a PEG ratio of 5.26 and a beta of 1.10. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The business’s 50-day simple moving average is $241.77 and its two-hundred day simple moving average is $251.66.

Illinois Tool Works (NYSE:ITW) last issued 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. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Illinois Tool Works’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.49%. Illinois Tool Works’s payout ratio is currently 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.