Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,732 shares of the industrial products company's stock after purchasing an additional 6,584 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Illinois Tool Works were worth $5,390,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ITW. F M Investments LLC boosted its holdings in Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after acquiring an additional 42 shares in the last quarter. Trust Co of the South lifted its holdings in shares of Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 42 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after purchasing an additional 44 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Illinois Tool Works by 0.8% during the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after purchasing an additional 45 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of Illinois Tool Works by 3.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after purchasing an additional 46 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays reduced their price objective on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group reduced their price target on 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. Evercore ISI reduced their price target on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Finally, Truist Financial reduced their price target on 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 analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and an average target price of $252.58.

Illinois Tool Works Trading Down 1.0%

Shares of Illinois Tool Works stock traded down $2.54 on Monday, reaching $255.96. The company had a trading volume of 342,008 shares, compared to its average volume of 1,109,101. The firm has a market cap of $75.00 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 5.70 and a beta of 1.09. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. The firm's 50-day moving average price is $245.68 and its two-hundred day moving average price is $249.42. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

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

Illinois Tool Works Dividend Announcement

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

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

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.