Curat Global LLC Takes $390,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Curat Global LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,574 shares of the industrial products company's stock, valued at approximately $390,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Illinois Tool Works by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Illinois Tool Works by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after acquiring an additional 99,753 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Illinois Tool Works by 1.8% during the 4th quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after acquiring an additional 71,934 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after acquiring an additional 95,925 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. UBS Group decreased their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Evercore ISI decreased 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 price target 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. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a research note on Wednesday, May 7th. Finally, Robert W. Baird raised their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $253.42.

Illinois Tool Works Trading Up 0.6%

Illinois Tool Works stock traded up $1.58 during mid-day trading on Friday, hitting $247.69. The company's stock had a trading volume of 604,764 shares, compared to its average volume of 1,011,920. The firm has a market capitalization of $72.57 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock's fifty day moving average is $239.64 and its two-hundred day moving average is $253.22.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director now directly owns 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company's stock.

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.