Invesco LLC Has $1.48 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Invesco LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 99.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,984 shares of the industrial products company's stock after purchasing an additional 2,991 shares during the quarter. Invesco LLC's holdings in Illinois Tool Works were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Glass Jacobson Investment Advisors llc increased its stake in shares of Illinois Tool Works by 336.0% in the fourth 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 last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Robert W. Baird lifted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Barclays lowered their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Bank of America lowered 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 research report on Wednesday, May 7th. Finally, UBS Group decreased their target price on shares of 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $253.42.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction dated Monday, June 2nd. The shares were bought 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 in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded up $1.34 during trading on Friday, reaching $248.09. The stock had a trading volume of 971,319 shares, compared to its average volume of 1,003,336. The stock has a fifty day simple moving average of $243.84 and a two-hundred day simple moving average of $250.11. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm has a market capitalization of $72.69 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 5.31 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 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 last year, the firm posted $2.44 EPS. The business's quarterly revenue was down 3.4% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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