127 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Northwest Investment Counselors LLC

Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 127 shares of the industrial products company’s stock, valued at approximately $34,000.

Several other institutional investors have also recently made changes to their positions in the business. Cornerstone Wealth Management LLC boosted its stake in Illinois Tool Works by 2.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after buying an additional 41 shares during the last quarter. Summit Financial LLC lifted its stake in shares of Illinois Tool Works by 1.6% in the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 41 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Illinois Tool Works by 2.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 43 shares during the last quarter. PFG Advisors lifted its stake in shares of Illinois Tool Works by 0.7% in the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 46 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its stake in shares of Illinois Tool Works by 1.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. bought 775 shares of Illinois Tool Works stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus raised their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Truist Financial raised their price target on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $256.44.

Illinois Tool Works Stock Performance

Shares of ITW traded up $3.41 during mid-day trading on Monday, reaching $243.81. The company had a trading volume of 405,390 shares, compared to its average volume of 1,173,867. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $72.75 billion, a P/E ratio of 23.71, a PEG ratio of 3.62 and a beta of 1.11. The stock has a 50 day moving average of $244.72 and a two-hundred day moving average of $254.26.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. Illinois Tool Works’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, analysts expect that Illinois Tool Works Inc. will post 10.22 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 Thursday, July 11th. Shareholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

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.