Kingsview Wealth Management LLC Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Kingsview Wealth Management LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 95.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,207 shares of the industrial products company's stock after buying an additional 9,867 shares during the quarter. Kingsview Wealth Management LLC's holdings in Illinois Tool Works were worth $5,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ITW. Brighton Jones LLC grew its holdings in 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 valued at $1,399,000 after buying an additional 277 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Illinois Tool Works by 44.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company's stock worth $439,000 after buying an additional 536 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $4,393,000. Harbour Investments Inc. grew its position in Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after acquiring an additional 44 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Illinois Tool Works by 2.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 33,945 shares of the industrial products company's stock worth $9,048,000 after buying an additional 890 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the business's stock in a transaction on Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, the director owned 122,884 shares in the company, valued at $29,634,705.44. This trade 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 currently owned by company insiders.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Citigroup raised their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Barclays increased their price objective on Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average price target of $253.83.

Illinois Tool Works Stock Performance

Shares of ITW stock traded down $2.48 during mid-day trading on Friday, reaching $255.22. The stock had a trading volume of 1,029,438 shares, compared to its average volume of 994,647. The business's fifty day moving average is $248.77 and its 200-day moving average is $249.55. 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 firm has a market cap of $74.78 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 5.45 and a beta of 1.09. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 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 period last year, the company earned $2.44 earnings per share. Illinois Tool Works's quarterly revenue was down 3.4% compared to the same quarter last year. On average, research analysts forecast 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 declared 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 dividend yield of 2.35%. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

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.