Mather Group LLC. Purchases 7,453 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mather Group LLC. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,032 shares of the industrial products company's stock after purchasing an additional 7,453 shares during the period. Mather Group LLC.'s holdings in Illinois Tool Works were worth $14,888,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth $214,000. EP Wealth Advisors LLC boosted its position in shares of Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after purchasing an additional 1,698 shares during the period. Sowell Financial Services LLC purchased a new position in Illinois Tool Works in the 1st quarter worth about $946,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Illinois Tool Works by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after buying an additional 4,560 shares during the period. Finally, Alteri Wealth LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $224,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Up 0.5%

NYSE:ITW traded up $1.19 during mid-day trading on Wednesday, reaching $256.38. The stock had a trading volume of 1,121,922 shares, compared to its average volume of 995,752. The stock has a market cap of $75.12 billion, a P/E ratio of 22.55, a PEG ratio of 5.62 and a beta of 1.09. The business's 50 day moving average is $244.59 and its 200 day moving average is $249.66. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

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 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. The business's revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio is 52.77%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI reduced their target price 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. Barclays decreased their target price on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus upped their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. 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 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $252.58.

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.