Arkadios Wealth Advisors Purchases 3,822 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Arkadios Wealth Advisors increased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,025 shares of the industrial products company's stock after purchasing an additional 3,822 shares during the period. Arkadios Wealth Advisors' holdings in Illinois Tool Works were worth $6,207,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ITW. Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth approximately $214,000. OneAscent Financial Services LLC grew its stake in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 341 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Illinois Tool Works by 42.2% during the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after purchasing an additional 1,698 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $946,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Illinois Tool Works by 12.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after purchasing an additional 4,560 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Down 1.6%

Shares of NYSE:ITW traded down $4.06 during midday trading on Friday, reaching $251.91. 1,236,431 shares of the company were exchanged, compared to its average volume of 1,107,026. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $250.93 and a two-hundred day simple moving average of $250.15. The firm has a market cap of $73.81 billion, a PE ratio of 22.08, a P/E/G ratio of 5.29 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $2.54 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Insider Activity at Illinois Tool Works

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 shares were purchased at an average cost of $241.16 per share, for a total transaction 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. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ITW has been the topic of several research analyst reports. UBS Group increased their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays raised their price objective on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Citigroup raised their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research note on Wednesday, May 7th. Finally, Truist Financial cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus price target of $259.08.

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.