Nilsine Partners LLC Sells 441 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Nilsine Partners LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,774 shares of the industrial products company’s stock after selling 441 shares during the quarter. Nilsine Partners LLC’s holdings in Illinois Tool Works were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of Illinois Tool Works in the second quarter valued at about $735,000. Farther Finance Advisors LLC increased its position in Illinois Tool Works by 92.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,398 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 1,633 shares during the period. Confluence Wealth Services Inc. raised its holdings in shares of Illinois Tool Works by 39.3% in the 2nd quarter. Confluence Wealth Services Inc. now owns 4,067 shares of the industrial products company’s stock valued at $964,000 after purchasing an additional 1,147 shares in the last quarter. Graypoint LLC lifted its position in shares of Illinois Tool Works by 3.9% in the 2nd quarter. Graypoint LLC now owns 3,017 shares of the industrial products company’s stock worth $715,000 after purchasing an additional 112 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Illinois Tool Works by 3.9% during the second quarter. Van ECK Associates Corp now owns 49,864 shares of the industrial products company’s stock valued at $11,816,000 after purchasing an additional 1,859 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the acquisition, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded up $2.74 during midday trading on Friday, hitting $253.18. The company had a trading volume of 822,593 shares, compared to its average volume of 765,347. The company has a fifty day simple moving average of $242.38 and a 200 day simple moving average of $249.09. The stock has a market cap of $75.55 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 4.03 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.41 earnings per share. As a group, analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.37%. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI decreased their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $250.22.

About Illinois Tool Works

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.