Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Compton Wealth Advisory Group LLC

Compton Wealth Advisory Group LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,781 shares of the industrial products company's stock after selling 1,207 shares during the quarter. Compton Wealth Advisory Group LLC's holdings in Illinois Tool Works were worth $690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Concurrent Investment Advisors LLC raised its position in Illinois Tool Works by 43.5% during the first quarter. Concurrent Investment Advisors LLC now owns 21,732 shares of the industrial products company's stock valued at $5,390,000 after acquiring an additional 6,584 shares in the last quarter. World Investment Advisors increased its holdings in shares of Illinois Tool Works by 0.6% during the 1st quarter. World Investment Advisors now owns 16,885 shares of the industrial products company's stock valued at $4,188,000 after purchasing an additional 93 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $71,000. von Borstel & Associates Inc. acquired a new stake in Illinois Tool Works during the first quarter valued at $26,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the first quarter worth about $49,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 1.0%

Illinois Tool Works stock traded down $2.54 during midday trading on Monday, hitting $255.96. 342,008 shares of the stock were exchanged, compared to its average volume of 1,109,101. 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 stock has a market capitalization of $75.00 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 5.70 and a beta of 1.09. The stock's 50-day simple moving average is $245.68 and its 200 day simple moving average is $249.42. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. The firm 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 business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. Illinois Tool Works's payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI cut their price target on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research note on Monday, May 19th. Citigroup decreased their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group reduced 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. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $252.58.

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.