Envestnet Asset Management Inc. Has $165.62 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Envestnet Asset Management Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 667,790 shares of the industrial products company's stock after buying an additional 17,004 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of Illinois Tool Works worth $165,619,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock worth $6,675,473,000 after acquiring an additional 94,601 shares in the last quarter. Northern Trust Corp grew its stake in shares of Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after acquiring an additional 508,188 shares in the last quarter. Geode Capital Management LLC grew 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 in the last quarter. Capital Research Global Investors grew 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $806,291,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ITW shares. Barclays raised their price target on shares of Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Stifel Nicolaus raised their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Citigroup cut their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $252.83.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents 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 through the SEC website. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded down $2.41 during midday trading on Friday, hitting $259.71. The company's stock had a trading volume of 745,703 shares, compared to its average volume of 1,112,995. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. 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 company has a 50-day moving average price of $247.15 and a two-hundred day moving average price of $249.55. The company has a market cap of $76.10 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 5.50 and a beta of 1.09.

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. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The business 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 company earned $2.44 EPS. The business's revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

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.