Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,307 shares of the industrial products company's stock after selling 2,191 shares during the period. Brown Advisory Inc.'s holdings in Illinois Tool Works were worth $20,909,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth about $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its stake in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded down $2.41 on Friday, reaching $259.71. 745,703 shares of the stock were exchanged, compared to its average volume of 998,408. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year 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. The business has a fifty day moving average price of $247.49 and a two-hundred day moving average price of $249.55. The firm has a market capitalization of $76.10 billion, a PE ratio of 22.84, a PEG ratio of 5.55 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly 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. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business posted $2.44 earnings per share. The business's revenue was down 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a dividend of $1.50 per share. The ex-dividend date was Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.31%. Illinois Tool Works's payout ratio is currently 52.77%.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the transaction, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ITW. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. 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. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. 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. Finally, Truist Financial reduced their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $252.83.

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.