Mutual of America Capital Management LLC Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Mutual of America Capital Management LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,065 shares of the industrial products company's stock after selling 1,132 shares during the quarter. Mutual of America Capital Management LLC's holdings in Illinois Tool Works were worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Redwood Park Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $26,000. Glass Jacobson Investment Advisors llc boosted its position in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after buying an additional 84 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in Illinois Tool Works in the 4th quarter worth $35,000. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 31st. Robert W. Baird upped their price target 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. Evercore ISI reduced their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. UBS Group raised their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Barclays boosted their price objective on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an "equal weight" rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and a consensus price target of $259.33.

Illinois Tool Works Stock Up 0.1%

NYSE ITW traded up $0.20 during trading hours on Friday, reaching $256.98. 541,078 shares of the company's stock traded hands, compared to its average volume of 1,099,823. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.59 and a quick ratio of 1.15. The firm has a 50-day simple moving average of $252.05 and a 200 day simple moving average of $250.15. The firm has a market cap of $74.91 billion, a PE ratio of 22.52, a PEG ratio of 5.55 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The business's revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $2.54 earnings per share. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works's payout ratio is currently 52.59%.

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.