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

Tradewinds LLC. raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,732 shares of the industrial products company's stock after purchasing an additional 1,032 shares during the period. Illinois Tool Works accounts for approximately 1.7% of Tradewinds LLC.'s investment portfolio, making the stock its 18th largest holding. Tradewinds LLC.'s holdings in Illinois Tool Works were worth $6,134,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. F M Investments LLC increased its position in shares of Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after purchasing an additional 42 shares in the last quarter. Trust Co of the South raised its position in shares of Illinois Tool Works by 2.9% in the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 42 shares during the last quarter. Harbour Investments Inc. grew its position in Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after purchasing an additional 44 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock worth $1,504,000 after buying an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of Illinois Tool Works by 3.3% during the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock worth $355,000 after buying an additional 46 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 1.0%

Shares of Illinois Tool Works stock traded down $2.70 during mid-day trading on Monday, hitting $255.81. The stock had a trading volume of 358,154 shares, compared to its average volume of 993,128. The firm has a market cap of $74.95 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 5.70 and a beta of 1.09. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month 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. The firm has a 50-day moving average of $245.68 and a two-hundred day moving average of $249.42.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works's payout ratio is 52.77%.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction that occurred on Monday, June 2nd. The shares were purchased 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 directly owned 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. UBS Group dropped their price target on 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. 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. Robert W. Baird boosted 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 report on Thursday, May 1st. Barclays decreased their price objective on 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. Finally, Citigroup reduced their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.