Compass Capital Management Inc. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,560 shares of the industrial products company’s stock after selling 6,311 shares during the period. Illinois Tool Works makes up 3.1% of Compass Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Compass Capital Management Inc.’s holdings in Illinois Tool Works were worth $55,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of ITW. Brighton Jones LLC grew its position in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after buying an additional 277 shares during the last quarter. Bison Wealth LLC grew its position in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after buying an additional 81 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after buying an additional 177 shares during the last quarter. Sei Investments Co. grew its position in shares of Illinois Tool Works by 22.0% in the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock valued at $26,401,000 after buying an additional 19,248 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Illinois Tool Works by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock valued at $33,845,000 after buying an additional 2,890 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Stock Up 1.8%
Shares of NYSE:ITW opened at $254.58 on Friday. The company has a market cap of $73.24 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 4.30 and a beta of 1.01. The firm’s 50-day simple moving average is $258.24 and its 200-day simple moving average is $262.91. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a fifty-two week low of $238.82 and a fifty-two week high of $303.15.
Illinois Tool Works Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s payout ratio is presently 59.80%.
Insider Buying and Selling at Illinois Tool Works
In other news, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director directly owned 1,652 shares in the company, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.83% of the stock is currently owned by insiders.
Analysts Set New Price Targets
ITW has been the topic of a number of recent analyst reports. Evercore dropped their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Wolfe Research raised their price objective on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research report on Friday, February 27th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $271.92.
Read Our Latest Research Report on ITW
Illinois Tool Works Profile
Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.
The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.
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