Westhampton Capital LLC Has $523,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Westhampton Capital LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,950 shares of the industrial products company’s stock after selling 50 shares during the quarter. Westhampton Capital LLC’s holdings in Illinois Tool Works were worth $523,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. Security National Bank bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $1.25 during trading on Tuesday, reaching $234.66. The company’s stock had a trading volume of 333,143 shares, compared to its average volume of 1,184,140. The stock has a market capitalization of $70.02 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The stock has a 50-day moving average price of $243.51 and a two-hundred day moving average price of $253.84.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.22 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Activity

In related news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ITW shares. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Barclays decreased their price target on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Truist Financial reduced their target price on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $254.00.

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.