1,661 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,661 shares of the industrial products company's stock, valued at approximately $402,000.

Several other hedge funds have also recently modified their holdings of the business. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter valued at $214,000. EP Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after acquiring an additional 1,698 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Illinois Tool Works during the first quarter worth $946,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $10,242,000 after buying an additional 4,560 shares in the last quarter. Finally, Alteri Wealth LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth $224,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, 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 SEC, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 1.0%

ITW stock traded down $2.48 during mid-day trading on Friday, hitting $255.22. 1,029,438 shares of the company were exchanged, compared to its average volume of 1,101,303. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. The firm has a market capitalization of $74.78 billion, a P/E ratio of 22.45, a PEG ratio of 5.43 and a beta of 1.09. The business has a fifty day simple moving average of $248.77 and a 200-day simple moving average of $249.55. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm posted $2.44 earnings per share. Illinois Tool Works's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ITW shares. Barclays increased 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 report on Wednesday, July 9th. Bank of America cut 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. Evercore ISI cut their price objective 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. UBS Group cut 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. Finally, Stifel Nicolaus raised 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $253.83.

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.