Illinois Tool Works Inc. (NYSE:ITW) Stock Position Reduced by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 208,529 shares of the industrial products company's stock after selling 2,401 shares during the quarter. Bartlett & CO. Wealth Management LLC owned about 0.07% of Illinois Tool Works worth $52,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new stake in Illinois Tool Works during the 4th quarter valued at $26,000. Glass Jacobson Investment Advisors llc boosted 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 acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $1.34 during mid-day trading on Friday, reaching $248.09. The company had a trading volume of 971,319 shares, compared to its average volume of 1,003,953. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market cap of $72.69 billion, a PE ratio of 21.82, a P/E/G ratio of 5.28 and a beta of 1.10. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25. The company has a 50-day moving average price of $243.49 and a two-hundred day moving average price of $250.29.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly 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 return on equity of 92.77% and a net margin of 21.37%. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter last year, the business posted $2.44 EPS. Illinois Tool Works's revenue was down 3.4% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director now owns 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ITW shares. Robert W. Baird upped 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. Evercore ISI reduced their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research note on Monday, May 19th. Barclays lowered their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. UBS Group cut their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus target price of $253.42.

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.