David Byron Smith, Jr. Buys 775 Shares of Illinois Tool Works Inc. (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITW) Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $240.48 on Wednesday. The business has a 50 day simple moving average of $245.64 and a 200 day simple moving average of $254.36. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The company has a market capitalization of $71.76 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 3.49 and a beta of 1.11. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate 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 net margin of 19.07% and a return on equity of 97.82%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.22 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced 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 2.33%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Analyst Ratings Changes

ITW has been the subject of several research reports. Truist Financial increased their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. 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 report on Wednesday, April 17th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Barclays lowered their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $256.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SRN Advisors LLC grew its holdings in shares of Illinois Tool Works by 4.8% during the first quarter. SRN Advisors LLC now owns 3,731 shares of the industrial products company’s stock worth $1,001,000 after purchasing an additional 172 shares during the last quarter. NBW Capital LLC grew its holdings in Illinois Tool Works by 3.6% during the 1st quarter. NBW Capital LLC now owns 31,061 shares of the industrial products company’s stock worth $8,335,000 after acquiring an additional 1,073 shares during the last quarter. OMC Financial Services LTD bought a new position in shares of Illinois Tool Works in the first quarter worth about $577,000. Railway Pension Investments Ltd lifted its position in shares of Illinois Tool Works by 29.5% during the first quarter. Railway Pension Investments Ltd now owns 59,663 shares of the industrial products company’s stock worth $16,009,000 after purchasing an additional 13,600 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $127,000. 79.77% of the stock is owned by institutional investors and hedge funds.

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.