Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,462 shares of the industrial products company's stock after selling 2,187 shares during the period. Kintegral Advisory LLC's holdings in Illinois Tool Works were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the last quarter. Northern Trust Corp boosted its position in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after buying an additional 508,188 shares during the last quarter. Geode Capital Management LLC boosted its position in Illinois Tool Works by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after purchasing an additional 99,753 shares in the last quarter. Capital Research Global Investors boosted its position in Illinois Tool Works by 1.8% in the 4th quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after purchasing an additional 71,934 shares in the last quarter. Finally, Norges Bank purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $806,291,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 1.5%

ITW stock traded down $3.91 during mid-day trading on Monday, reaching $254.59. The company had a trading volume of 568,709 shares, compared to its average volume of 994,052. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The company has a market capitalization of $74.59 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 5.70 and a beta of 1.09. The firm has a fifty day simple moving average of $245.68 and a 200 day simple moving average of $249.42.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 yield of 2.36%. Illinois Tool Works's dividend payout ratio is presently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ITW shares. UBS Group reduced their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company upped their target price on Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Stifel Nicolaus increased their price target on Illinois Tool Works from $227.00 to $233.00 and gave the stock 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 report on Thursday, May 1st. Finally, Evercore ISI lowered their price target 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and an average price target of $252.58.

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.