Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Revisor Wealth Management LLC

Revisor Wealth Management LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 190.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,064 shares of the industrial products company's stock after acquiring an additional 2,009 shares during the quarter. Revisor Wealth Management LLC's holdings in Illinois Tool Works were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ITW. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the 4th quarter worth $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $26,000. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $26,000. Glass Jacobson Investment Advisors llc lifted its stake in shares of Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, the director owned 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $256.38 on Thursday. The company has a market cap of $75.12 billion, a P/E ratio of 22.55, a PEG ratio of 5.62 and a beta of 1.09. The business has a 50 day moving average of $244.98 and a two-hundred day moving average of $249.70. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. 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 (NYSE:ITW - Get Free Report) last announced its quarterly earnings results 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 92.77% and a net margin of 21.37%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the business posted $2.44 EPS. The business's revenue was down 3.4% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Analysts Set New Price Targets

Several research firms have issued reports on ITW. Barclays dropped their price objective on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup cut 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 report on Monday, April 14th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Finally, Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $252.58.

About Illinois Tool Works

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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