Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,882 shares of the industrial products company’s stock after acquiring an additional 16,205 shares during the period. National Bank of Canada FI’s holdings in Illinois Tool Works were worth $22,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth about $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $250.22.

Illinois Tool Works Stock Up 0.3 %

Illinois Tool Works stock opened at $243.81 on Friday. The stock’s 50 day moving average price is $243.19 and its 200 day moving average price is $248.85. The company has a market cap of $72.75 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 4.03 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 earnings per share. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 59.17%.

About Illinois Tool Works

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.