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

Brown Advisory Inc. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $214,000. EP Wealth Advisors LLC grew its position in Illinois Tool Works by 42.2% during the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock worth $1,450,000 after buying an additional 1,698 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $946,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Illinois Tool Works by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock valued at $10,242,000 after purchasing an additional 4,560 shares during the last quarter. Finally, Alteri Wealth LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $224,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ITW. Truist Financial decreased 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 research report on Thursday, May 1st. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. UBS Group cut 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. Barclays increased their price target on shares of Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Three research 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $252.83.

Illinois Tool Works Trading Up 0.9%

Shares of ITW stock traded up $2.28 during mid-day trading on Thursday, reaching $262.03. The company's stock had a trading volume of 1,097,744 shares, compared to its average volume of 998,504. The company's 50 day simple moving average is $246.68 and its 200-day simple moving average is $249.52. The firm has a market capitalization of $76.77 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 5.46 and a beta of 1.09. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 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, with a total value of $210,291.52. Following the acquisition, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

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.