Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Decreased by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,475 shares of the industrial products company's stock after selling 992 shares during the period. Richard C. Young & CO. LTD.'s holdings in Illinois Tool Works were worth $7,558,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ITW. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Bank of America lowered 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 report on Wednesday, May 7th. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $253.83.

Insider Transactions at Illinois Tool Works

In other 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 price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 1.0%

Shares of NYSE:ITW traded down $2.48 during midday trading on Friday, hitting $255.22. 1,029,438 shares of the company's stock traded hands, compared to its average volume of 995,476. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The company has a market cap of $74.78 billion, a PE ratio of 22.45, a P/E/G ratio of 5.43 and a beta of 1.09. The firm's fifty day moving average price is $248.77 and its two-hundred day moving average price is $249.55. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released 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 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 quarter in the previous year, the firm posted $2.44 EPS. The firm's quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

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.