Alps Advisors Inc. Has $10.46 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Alps Advisors Inc. raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,182 shares of the industrial products company's stock after acquiring an additional 1,830 shares during the period. Alps Advisors Inc.'s holdings in Illinois Tool Works were worth $10,462,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITW. Norges Bank bought a new stake in Illinois Tool Works in the fourth quarter valued at $806,291,000. GAMMA Investing LLC boosted its stake in Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Cerity Partners LLC boosted its stake in Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock worth $229,269,000 after purchasing an additional 655,341 shares in the last quarter. Northern Trust Corp boosted its stake in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after purchasing an additional 508,188 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Illinois Tool Works by 1,899.3% in the fourth quarter. Federated Hermes Inc. now owns 224,921 shares of the industrial products company's stock worth $57,031,000 after purchasing an additional 213,671 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.9%

NYSE:ITW traded down $2.41 during mid-day trading on Friday, hitting $259.71. The company had a trading volume of 745,703 shares, compared to its average volume of 998,111. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The business's fifty day moving average is $247.49 and its two-hundred day moving average is $249.48. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm has a market cap of $76.10 billion, a P/E ratio of 22.84, a P/E/G ratio of 5.50 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a $1.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.77%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI reduced their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Barclays boosted their price objective on Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Stifel Nicolaus upped 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. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Finally, Truist Financial cut their price target on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $252.83.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

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.