Crossmark Global Holdings Inc. Sells 1,273 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Crossmark Global Holdings Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,681 shares of the industrial products company's stock after selling 1,273 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Illinois Tool Works were worth $3,889,000 at the end of the most recent quarter.

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

Illinois Tool Works Trading Up 0.9%

Illinois Tool Works stock traded up $2.28 during midday trading on Thursday, reaching $262.03. The stock had a trading volume of 1,097,744 shares, compared to its average volume of 999,061. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. The firm has a market cap of $76.77 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a fifty day moving average of $246.68 and a 200 day moving average of $249.52.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works's dividend payout ratio is 52.77%.

Wall Street Analyst Weigh In

Several brokerages have commented on ITW. 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. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. 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. Bank of America downgraded 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 report on Wednesday, May 7th. Finally, Citigroup decreased their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $252.83.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 872 shares of the company's stock in a transaction on Monday, June 2nd. The shares were acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company's stock.

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.