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

Brown Advisory Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in Illinois Tool Works in the 4th quarter worth $25,000. Redwood Park Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new position in Illinois Tool Works in the 4th quarter worth $26,000. von Borstel & Associates Inc. bought a new position in Illinois Tool Works in the 1st quarter worth $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after buying an additional 84 shares during the period. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.9%

Illinois Tool Works stock traded down $2.41 during midday trading on Friday, reaching $259.71. The stock had a trading volume of 745,703 shares, compared to its average volume of 998,111. 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 Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The firm has a market cap of $76.10 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09. The company has a fifty day moving average of $247.49 and a 200 day moving average of $249.48.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for 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 firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

Several brokerages have commented on ITW. Evercore ISI decreased 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. Citigroup decreased their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted 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. Finally, Barclays boosted 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. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $252.83.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works 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 acquisition, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by 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.