Tradewinds LLC. Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Tradewinds LLC. boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 24,732 shares of the industrial products company's stock after purchasing an additional 1,032 shares during the quarter. Illinois Tool Works comprises about 1.7% of Tradewinds LLC.'s holdings, making the stock its 18th biggest holding. Tradewinds LLC.'s holdings in Illinois Tool Works were worth $6,134,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the first quarter worth approximately $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings 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 buying an additional 84 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $1.99 during mid-day trading on Wednesday, hitting $259.89. The company had a trading volume of 866,269 shares, compared to its average volume of 1,115,935. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The stock's 50 day moving average price is $246.28 and its 200-day moving average price is $249.44. 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 market capitalization of $76.15 billion, a P/E ratio of 22.86, a P/E/G ratio of 5.61 and a beta of 1.09.

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 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 company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Bank of America downgraded 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 report on Wednesday, May 7th. Evercore ISI decreased their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Truist Financial decreased their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group decreased their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $252.83.

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.