1,145 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Arbor Investment Advisors LLC

Arbor Investment Advisors LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,145 shares of the industrial products company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of 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 valued at $28,000 after buying an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director now directly owns 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $248.09 on Monday. The company has a market cap of $72.69 billion, a P/E ratio of 21.82, a P/E/G ratio of 5.33 and a beta of 1.10. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The business has a fifty day simple moving average of $243.84 and a 200-day simple moving average of $249.79.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITW. Robert W. Baird lifted their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted 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. Barclays decreased their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Evercore ISI reduced their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Finally, Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $253.42.

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.

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