Czech National Bank Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Czech National Bank grew its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,371 shares of the industrial products company's stock after purchasing an additional 3,106 shares during the period. Czech National Bank's holdings in Illinois Tool Works were worth $15,221,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc lifted its position in shares of 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 valued at $28,000 after acquiring an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Byron Smith, Jr. purchased 872 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director now directly owns 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus increased 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. UBS Group dropped their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays reduced their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Robert W. Baird lifted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $253.42.

Illinois Tool Works Stock Up 0.1%

ITW traded up $0.30 on Thursday, reaching $246.81. The company's stock had a trading volume of 224,429 shares, compared to its average volume of 1,007,367. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a 50 day moving average of $239.71 and a two-hundred day moving average of $253.52. The company has a market capitalization of $72.31 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 4.56 and a beta of 1.10.

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 (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the business earned $2.44 EPS. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.43%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

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.