Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,632 shares of the industrial products company’s stock after acquiring an additional 137 shares during the quarter. D.A. Davidson & CO.’s holdings in Illinois Tool Works were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. F M Investments LLC lifted its position in Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after buying an additional 42 shares during the last quarter. Trust Co of the South lifted its position in Illinois Tool Works by 2.9% in the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock valued at $367,000 after buying an additional 42 shares during the last quarter. Harbour Investments Inc. lifted its position in Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after buying an additional 44 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after buying an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock valued at $355,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $258.40 on Friday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. The firm has a market capitalization of $75.71 billion, a P/E ratio of 22.73, a P/E/G ratio of 5.70 and a beta of 1.09. The business’s 50-day moving average is $245.68 and its two-hundred day moving average is $249.48. 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) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

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 dated 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 of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of recent analyst reports. Bank of America cut 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 research report on Wednesday, May 7th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Barclays reduced their price target on shares of 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. UBS Group reduced their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Finally, Citigroup reduced their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $252.58.

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.