Illinois Tool Works Inc. (NYSE:ITW) Director Purchases $210,291.52 in Stock

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is accessible through the SEC website.

Illinois Tool Works Stock Down 0.2%

Shares of ITW traded down $0.58 during midday trading on Thursday, reaching $245.93. 1,090,894 shares of the company were exchanged, compared to its average volume of 1,012,420. The stock has a 50-day moving average price of $239.71 and a 200-day moving average price of $253.52. The company has a market cap of $72.06 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. 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 (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 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 95.39% and a net margin of 21.94%. The firm's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 42.2% in the fourth 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 in the last quarter. MOKAN Wealth Management Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth about $1,096,000. Sovran Advisors LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $398,000. Roxbury Financial LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $615,000. Finally, Empower Advisory Group LLC raised its stake in Illinois Tool Works by 3.2% during the fourth quarter. Empower Advisory Group LLC now owns 346,144 shares of the industrial products company's stock valued at $87,768,000 after buying an additional 10,739 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Bank of America downgraded 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. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus target price of $253.42.

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.