Crestwood Advisors Group LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Crestwood Advisors Group LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 155.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,234 shares of the industrial products company's stock after buying an additional 6,227 shares during the quarter. Crestwood Advisors Group LLC's holdings in Illinois Tool Works were worth $2,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Gallacher Capital Management LLC lifted its position in shares of Illinois Tool Works by 192.1% during the first quarter. Gallacher Capital Management LLC now owns 2,927 shares of the industrial products company's stock worth $726,000 after purchasing an additional 1,925 shares during the last quarter. Wealth Alliance LLC lifted its position in shares of Illinois Tool Works by 4.5% during the first quarter. Wealth Alliance LLC now owns 1,843 shares of the industrial products company's stock worth $457,000 after purchasing an additional 80 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Illinois Tool Works by 3.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 20,728 shares of the industrial products company's stock worth $5,140,000 after purchasing an additional 751 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Illinois Tool Works by 93.7% during the first quarter. IFP Advisors Inc now owns 7,630 shares of the industrial products company's stock worth $1,893,000 after purchasing an additional 3,690 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its position in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after purchasing an additional 341 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ITW shares. Robert W. Baird lifted their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Barclays lifted their target price on Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Evercore ISI decreased their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, UBS Group decreased their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given 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, the company has an average rating of "Hold" and a consensus target price of $255.67.

Illinois Tool Works Stock Down 0.3%

ITW traded down $0.74 on Friday, hitting $261.09. The company had a trading volume of 189,825 shares, compared to its average volume of 1,086,349. The stock has a fifty day moving average price of $249.97 and a 200-day moving average price of $249.79. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. 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 stock has a market capitalization of $76.50 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 5.55 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

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.