Armstrong Fleming & Moore Inc Invests $936,000 in Illinois Tool Works Inc. (NYSE:ITW)

Armstrong Fleming & Moore Inc purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,773 shares of the industrial products company's stock, valued at approximately $936,000. Illinois Tool Works comprises approximately 1.1% of Armstrong Fleming & Moore Inc's investment portfolio, making the stock its 24th largest holding.

A number of other large investors have also recently bought and sold shares of ITW. F M Investments LLC increased its position in shares of Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after buying an additional 42 shares in the last quarter. Trust Co of the South increased its position in shares of Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after buying an additional 44 shares in the last quarter. Integrated Advisors Network LLC increased its position in shares of Illinois Tool Works by 0.8% in the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after buying an additional 45 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after buying an additional 46 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded up $1.58 during midday trading on Friday, reaching $247.69. The stock had a trading volume of 604,764 shares, compared to its average volume of 1,011,920. The firm has a 50 day simple moving average of $239.64 and a 200-day simple moving average of $253.22. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The firm has a market cap of $72.57 billion, a PE ratio of 21.13, a P/E/G ratio of 4.56 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

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. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm posted $2.44 EPS. The company's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Citigroup lowered their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Finally, Evercore ISI decreased their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $253.42.

Insider Activity

In related news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director now owns 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.