IFM Investors Pty Ltd Purchases 5,409 Shares of Illinois Tool Works Inc. (NYSE:ITW)

IFM Investors Pty Ltd boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,965 shares of the industrial products company's stock after buying an additional 5,409 shares during the period. IFM Investors Pty Ltd's holdings in Illinois Tool Works were worth $15,453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $26,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $26,000. Glass Jacobson Investment Advisors llc grew its position in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research report on Wednesday, May 7th. Robert W. Baird lifted 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 lifted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. UBS Group decreased their target price on shares of 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. Finally, Barclays decreased their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $252.58.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. bought 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Up 1.2%

Shares of ITW stock traded up $2.93 on Tuesday, hitting $257.59. The company's stock had a trading volume of 1,572,415 shares, compared to its average volume of 997,860. 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 Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm's fifty day moving average price is $246.28 and its 200-day moving average price is $249.44. The stock has a market capitalization of $75.47 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 5.61 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.83 billion. During the same quarter in the previous year, the business earned $2.44 EPS. Illinois Tool Works's quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's payout ratio 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.