G&S Capital LLC Invests $1.36 Million in Illinois Tool Works Inc. (NYSE:ITW)

G&S Capital LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,051 shares of the industrial products company’s stock, valued at approximately $1,355,000.

A number of other large investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $26,000. Security National Bank acquired a new stake in Illinois Tool Works in the fourth quarter valued at about $28,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works in the fourth quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ITW shares. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Truist Financial boosted their target price on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays cut their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Citigroup upped their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company cut their price target on 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $256.44.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $238.88 on Thursday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The business’s 50 day simple moving average is $244.23 and its 200 day simple moving average is $254.14. The stock has a market capitalization of $71.28 billion, a PE ratio of 23.56, a PEG ratio of 3.54 and a beta of 1.11.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works’s payout ratio is currently 55.23%.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

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.