Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,083 shares of the industrial products company's stock after selling 1,946 shares during the period. Illinois Tool Works makes up approximately 1.6% of Arcadia Investment Management Corp MI's holdings, making the stock its 21st largest position. Arcadia Investment Management Corp MI's holdings in Illinois Tool Works were worth $8,949,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in Illinois Tool Works by 9.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 370,825 shares of the industrial products company's stock valued at $90,291,000 after buying an additional 33,488 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Illinois Tool Works by 0.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 26,335 shares of the industrial products company's stock worth $6,532,000 after purchasing an additional 115 shares during the period. Stratos Investment Management LLC increased its position in Illinois Tool Works by 41.8% during the 1st quarter. Stratos Investment Management LLC now owns 4,893 shares of the industrial products company's stock worth $1,214,000 after purchasing an additional 1,442 shares during the period. Dupree Financial Group LLC increased its position in Illinois Tool Works by 1.9% during the 1st quarter. Dupree Financial Group LLC now owns 11,425 shares of the industrial products company's stock worth $2,833,000 after purchasing an additional 214 shares during the period. Finally, Callan Capital LLC increased its position in Illinois Tool Works by 6.5% during the 1st quarter. Callan Capital LLC now owns 2,484 shares of the industrial products company's stock worth $616,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ITW shares. Wells Fargo & Company boosted their target price on Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. UBS Group cut their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Evercore ISI cut their price target on shares of 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, Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $252.83.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $2.28 on Thursday, hitting $262.03. The company's stock had a trading volume of 1,097,744 shares, compared to its average volume of 999,061. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. The company has a market capitalization of $76.77 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a 50 day moving average of $247.15 and a 200-day moving average of $249.55.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The stock was purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Company 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.