Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,889 shares of the industrial products company's stock after selling 5,781 shares during the period. Boston Trust Walden Corp owned about 0.07% of Illinois Tool Works worth $51,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Global X Japan Co. Ltd. boosted its position in shares of Illinois Tool Works by 14.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 2,330 shares of the industrial products company's stock worth $578,000 after buying an additional 294 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in shares of Illinois Tool Works by 13.5% in the 1st quarter. Premier Path Wealth Partners LLC now owns 2,490 shares of the industrial products company's stock worth $618,000 after buying an additional 297 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Illinois Tool Works by 11.3% in the 1st quarter. Johnson Investment Counsel Inc. now owns 318,204 shares of the industrial products company's stock worth $78,918,000 after buying an additional 32,254 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Illinois Tool Works by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 31,297 shares of the industrial products company's stock valued at $7,761,000 after purchasing an additional 660 shares in the last quarter. Finally, PUREfi Wealth LLC lifted its holdings in Illinois Tool Works by 25.8% in the 1st quarter. PUREfi Wealth LLC now owns 1,081 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 222 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 0.4%

Shares of NYSE ITW traded down $0.90 on Friday, reaching $240.41. 1,504,304 shares of the company traded hands, compared to its average volume of 1,008,189. The company has a 50 day moving average of $242.18 and a 200 day moving average of $251.33. The stock has a market capitalization of $70.44 billion, a PE ratio of 21.14, a P/E/G ratio of 5.19 and a beta of 1.10. 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 current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 2.50%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction on 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 $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ITW shares. Evercore ISI reduced their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Citigroup reduced their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Truist Financial reduced their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays reduced their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.