Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Increased by Strong Tower Advisory Services

Strong Tower Advisory Services increased its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 36.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,990 shares of the industrial products company's stock after buying an additional 3,209 shares during the period. Strong Tower Advisory Services' holdings in Illinois Tool Works were worth $2,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $49,000. Caprock Group LLC increased its stake in Illinois Tool Works by 6.1% during the 4th quarter. Caprock Group LLC now owns 9,178 shares of the industrial products company's stock valued at $2,341,000 after purchasing an additional 528 shares in the last quarter. Austin Private Wealth LLC increased its stake in Illinois Tool Works by 4.1% during the 4th quarter. Austin Private Wealth LLC now owns 1,211 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 48 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Illinois Tool Works by 6.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the industrial products company's stock valued at $645,000 after acquiring an additional 164 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded up $0.65 during mid-day trading on Thursday, reaching $247.16. 283,236 shares of the company's stock were exchanged, compared to its average volume of 1,007,771. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market capitalization of $72.42 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. The business's fifty day simple moving average is $239.71 and its 200-day simple moving average is $253.52. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm posted $2.44 EPS. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.43%. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ITW. UBS Group lowered 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. Barclays lowered their price objective on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Wall Street Zen downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $253.42.

Illinois Tool Works 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.