Davidson Trust Co. Acquires New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Davidson Trust Co. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,249 shares of the industrial products company's stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in Illinois Tool Works by 3.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,658 shares of the industrial products company's stock valued at $1,155,000 after purchasing an additional 160 shares during the last quarter. Values Added Financial LLC increased its holdings in shares of Illinois Tool Works by 11.1% during the first quarter. Values Added Financial LLC now owns 1,177 shares of the industrial products company's stock worth $292,000 after buying an additional 118 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Illinois Tool Works by 0.9% in the 1st quarter. D.A. Davidson & CO. now owns 15,632 shares of the industrial products company's stock valued at $3,877,000 after acquiring an additional 137 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Illinois Tool Works by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 344,099 shares of the industrial products company's stock valued at $85,340,000 after acquiring an additional 2,545 shares in the last quarter. Finally, Mutual Advisors LLC grew its position in Illinois Tool Works by 8.3% during the 1st quarter. Mutual Advisors LLC now owns 2,149 shares of the industrial products company's stock worth $515,000 after acquiring an additional 164 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup cut their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Evercore ISI dropped their price target on shares of 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. Finally, Barclays reduced their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $252.58.

Illinois Tool Works Stock Up 0.8%

Shares of Illinois Tool Works stock opened at $258.40 on Friday. The stock's 50-day moving average is $245.31 and its 200 day moving average is $249.62. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The firm has a market cap of $75.71 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 5.65 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.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping 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 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 earned $2.44 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued 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 2.32%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insider Activity

In other news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The stock was bought 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 in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company 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.

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