Illinois Tool Works Inc. (NYSE:ITW) Stock Position Lifted by BKM Wealth Management LLC

BKM Wealth Management LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.2% during the first quarter, HoldingsChannel.com reports. The firm owned 7,381 shares of the industrial products company’s stock after acquiring an additional 622 shares during the period. BKM Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Aviance Capital Partners LLC bought a new stake in Illinois Tool Works in the first quarter worth approximately $2,173,000. Sandy Cove Advisors LLC grew its position in Illinois Tool Works by 10.5% in the first quarter. Sandy Cove Advisors LLC now owns 3,516 shares of the industrial products company’s stock worth $943,000 after acquiring an additional 334 shares in the last quarter. Symphony Financial Ltd. Co. grew its position in Illinois Tool Works by 3.0% in the first quarter. Symphony Financial Ltd. Co. now owns 5,586 shares of the industrial products company’s stock worth $1,499,000 after acquiring an additional 163 shares in the last quarter. Vicus Capital acquired a new stake in shares of Illinois Tool Works in the first quarter worth $215,000. Finally, Griffin Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 8.8% in the first quarter. Griffin Asset Management Inc. now owns 23,743 shares of the industrial products company’s stock worth $6,371,000 after buying an additional 1,920 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $2.92 during trading hours on Monday, hitting $234.04. 269,068 shares of the company traded hands, compared to its average volume of 1,185,783. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The stock has a market capitalization of $69.84 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 3.48 and a beta of 1.10. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The firm has a 50-day moving average of $243.51 and a 200 day moving average of $253.84.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is 55.23%.

Insider Activity

In other news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ITW shares. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Barclays reduced their price objective on shares of 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. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Finally, Citigroup upped their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $256.44.

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.