2,590 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,590 shares of the industrial products company's stock, valued at approximately $642,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ITW. Sivia Capital Partners LLC bought a new stake in Illinois Tool Works in the 1st quarter valued at $214,000. EP Wealth Advisors LLC increased its holdings 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 valued at $1,450,000 after buying an additional 1,698 shares during the period. MOKAN Wealth Management Inc. bought a new stake in Illinois Tool Works in the 4th quarter valued at $1,096,000. Sovran Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $398,000. Finally, Roxbury Financial LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $615,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

NYSE ITW traded down $4.78 on Friday, hitting $241.23. 801,603 shares of the company were exchanged, compared to its average volume of 1,010,835. The firm has a 50 day moving average of $240.64 and a two-hundred day moving average of $252.54. The company has a market cap of $70.68 billion, a P/E ratio of 20.58, a P/E/G ratio of 4.56 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly 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. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.49%. Illinois Tool Works's payout ratio is presently 52.77%.

Wall Street Analyst Weigh In

ITW has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a report on Wednesday, February 19th. Evercore ISI lowered their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a report on Wednesday, May 7th. Finally, UBS Group lowered their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $253.42.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director now owns 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company's stock.

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.