PFG Advisors Has $2.21 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

PFG Advisors grew its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 58.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,910 shares of the industrial products company's stock after purchasing an additional 3,271 shares during the quarter. PFG Advisors' holdings in Illinois Tool Works were worth $2,210,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Windle Wealth LLC lifted its stake in shares of Illinois Tool Works by 3.5% in the 1st quarter. Windle Wealth LLC now owns 27,720 shares of the industrial products company's stock valued at $6,875,000 after purchasing an additional 934 shares during the period. Van Strum & Towne Inc. grew its holdings in shares of Illinois Tool Works by 62.9% in the 1st quarter. Van Strum & Towne Inc. now owns 2,590 shares of the industrial products company's stock valued at $642,000 after buying an additional 1,000 shares during the period. HighPoint Advisor Group LLC grew its holdings in shares of Illinois Tool Works by 21.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 17,799 shares of the industrial products company's stock valued at $4,303,000 after buying an additional 3,182 shares during the period. Crestwood Advisors Group LLC increased its position in shares of Illinois Tool Works by 155.4% in the 1st quarter. Crestwood Advisors Group LLC now owns 10,234 shares of the industrial products company's stock valued at $2,538,000 after buying an additional 6,227 shares in the last quarter. Finally, Gallacher Capital Management LLC increased its position in shares of Illinois Tool Works by 192.1% in the 1st quarter. Gallacher Capital Management LLC now owns 2,927 shares of the industrial products company's stock valued at $726,000 after buying an additional 1,925 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded up $0.04 during midday trading on Friday, reaching $261.87. The stock had a trading volume of 1,092,980 shares, compared to its average volume of 879,734. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. 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 $76.73 billion, a PE ratio of 23.03, a P/E/G ratio of 5.52 and a beta of 1.09. The firm has a 50 day simple moving average of $250.18 and a 200-day simple moving average of $249.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued 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 return on equity of 92.77% and a net margin of 21.37%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the company posted $2.44 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The stock was bought 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent analyst reports. UBS Group lowered their price objective 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. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $233.00 to $255.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Finally, Citigroup raised their price objective on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $255.67.

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.