Stratos Investment Management LLC Purchases 1,442 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Stratos Investment Management LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 41.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,893 shares of the industrial products company's stock after purchasing an additional 1,442 shares during the period. Stratos Investment Management LLC's holdings in Illinois Tool Works were worth $1,214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dupree Financial Group LLC lifted its holdings in shares of Illinois Tool Works by 1.9% in the 1st quarter. Dupree Financial Group LLC now owns 11,425 shares of the industrial products company's stock worth $2,833,000 after purchasing an additional 214 shares in the last quarter. Callan Capital LLC lifted its holdings in shares of Illinois Tool Works by 6.5% in the 1st quarter. Callan Capital LLC now owns 2,484 shares of the industrial products company's stock worth $616,000 after purchasing an additional 152 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Illinois Tool Works by 2.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 667,790 shares of the industrial products company's stock worth $165,619,000 after purchasing an additional 17,004 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 426.2% in the 1st quarter. Penserra Capital Management LLC now owns 3,710 shares of the industrial products company's stock worth $919,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Ifrah Financial Services Inc. bought a new position in shares of Illinois Tool Works in the 1st quarter worth $582,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 1.2%

Shares of Illinois Tool Works stock opened at $257.59 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a market cap of $75.47 billion, a PE ratio of 22.66, a P/E/G ratio of 5.61 and a beta of 1.09. The stock has a fifty day moving average price of $246.28 and a 200-day moving average price of $249.44. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.33%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Analyst Ratings Changes

A number of equities research analysts recently commented on ITW shares. Barclays lowered their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company 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 target for the company. in a research report on Wednesday, May 7th. Robert W. Baird increased 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. UBS Group lowered their price target on 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. Finally, Citigroup lowered their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Three equities 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $252.58.

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.

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