Secured Retirement Advisors LLC Purchases New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Secured Retirement Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,460 shares of the industrial products company's stock, valued at approximately $2,098,000. Illinois Tool Works accounts for 1.4% of Secured Retirement Advisors LLC's holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of 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 purchasing an additional 277 shares during the last quarter. Proficio Capital Partners LLC grew its position in Illinois Tool Works by 44.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company's stock valued at $439,000 after acquiring an additional 536 shares during the last quarter. AGF Management Ltd. raised its stake in Illinois Tool Works by 494.3% during the fourth quarter. AGF Management Ltd. now owns 5,503 shares of the industrial products company's stock worth $1,395,000 after acquiring an additional 4,577 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Illinois Tool Works by 18.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,485 shares of the industrial products company's stock worth $1,898,000 after acquiring an additional 1,186 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Illinois Tool Works by 11.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 18,297 shares of the industrial products company's stock valued at $4,639,000 after purchasing an additional 1,951 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director owned 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Down 0.9%

ITW stock opened at $259.71 on Friday. 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 stock's 50 day simple moving average is $247.49 and its 200 day simple moving average is $249.48. The company has a market cap of $76.10 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. Illinois Tool Works's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $2.44 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Robert W. Baird boosted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price 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 lifted their price target on Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Evercore ISI lowered their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research note on Monday, May 19th. Three 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $252.83.

Illinois Tool Works Company 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.

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