Brown Advisory Inc. Has $20.91 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Brown Advisory Inc. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,307 shares of the industrial products company's stock after selling 2,191 shares during the quarter. Brown Advisory Inc.'s holdings in Illinois Tool Works were worth $20,909,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ITW. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth about $26,000. von Borstel & Associates Inc. acquired a new stake in Illinois Tool Works during the 1st quarter worth about $26,000. Finally, Glass Jacobson Investment Advisors llc grew its stake in 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 valued at $28,000 after acquiring an additional 84 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director directly owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $259.89 on Thursday. The stock has a market capitalization of $76.15 billion, a P/E ratio of 22.86, a P/E/G ratio of 5.46 and a beta of 1.09. The business has a 50-day moving average of $246.68 and a two-hundred day moving average of $249.52. 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 debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16.

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 for the quarter, topping the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.31%. Illinois Tool Works's payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ITW shares. Truist Financial decreased 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 report on Thursday, May 1st. 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 research note on Tuesday, July 1st. Evercore ISI dropped their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Robert W. Baird lifted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $252.83.

Illinois Tool Works Company 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.

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