Ifrah Financial Services Inc. Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Ifrah Financial Services Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,348 shares of the industrial products company's stock, valued at approximately $582,000.

Several other large investors have also recently modified their holdings of ITW. Sivia Capital Partners LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth $214,000. EP Wealth Advisors LLC grew its holdings in Illinois Tool Works by 42.2% in the fourth quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock worth $1,450,000 after purchasing an additional 1,698 shares during the period. Sowell Financial Services LLC acquired a new stake in Illinois Tool Works in the first quarter worth $946,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Illinois Tool Works by 12.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after purchasing an additional 4,560 shares during the period. Finally, Alteri Wealth LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth $224,000. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 1.5%

Shares of NYSE:ITW traded down $3.80 during midday trading on Monday, reaching $254.70. The company's stock had a trading volume of 974,815 shares, compared to its average volume of 995,541. The firm has a 50 day moving average of $245.68 and a 200-day moving average of $249.42. The firm has a market capitalization of $74.63 billion, a P/E ratio of 22.40, a PEG ratio of 5.70 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm earned $2.44 EPS. The company's revenue was down 3.4% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. 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. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. UBS Group reduced their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Stifel Nicolaus raised 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. Finally, Citigroup dropped their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $252.58.

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.