Simplicity Wealth LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,440 shares of the industrial products company's stock, valued at approximately $1,101,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in shares of Illinois Tool Works in the first quarter worth $214,000. EP Wealth Advisors LLC increased its stake in 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 worth $1,450,000 after acquiring an additional 1,698 shares during the last quarter. MOKAN Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $1,096,000. Sovran Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $398,000. Finally, Roxbury Financial LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter worth about $615,000. Institutional investors own 79.77% of the company's stock.
Illinois Tool Works Trading Down 0.3%
Shares of NYSE ITW traded down $0.73 during trading hours on Thursday, hitting $245.89. The company's stock had a trading volume of 650,994 shares, compared to its average volume of 1,011,001. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a market cap of $72.05 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 4.56 and a beta of 1.10. The business has a 50-day simple moving average of $240.15 and a 200-day simple moving average of $252.75.
Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The business's revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.
Analysts Set New Price Targets
A number of equities analysts have commented on ITW shares. Citigroup cut their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group cut their target price 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. Barclays lowered their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research report on Wednesday, May 7th. Finally, 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 research note on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $253.42.
Read Our Latest Stock Report on ITW
Insider Activity at Illinois Tool Works
In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were acquired at an average cost of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by insiders.
Illinois Tool Works Profile
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Free Report)
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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