Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.9% during the 1st quarter, HoldingsChannel reports. The firm owned 5,543 shares of the industrial products company’s stock after purchasing an additional 208 shares during the period. Strong Tower Advisory Services’ holdings in Illinois Tool Works were worth $1,470,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC boosted its position in Illinois Tool Works by 2.8% in the 4th 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 grew its position in shares of Illinois Tool Works by 1.6% during the fourth quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 41 shares during the last quarter. Catalyst Financial Partners LLC grew its holdings in 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 worth $463,000 after buying an additional 43 shares in the last quarter. PFG Advisors lifted its holdings in Illinois Tool Works by 0.7% in the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 46 shares during the period. Finally, Crestwood Advisors Group LLC boosted its stake in Illinois Tool Works by 1.3% during 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 in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 1.0 %

Shares of ITW stock traded down $2.31 on Tuesday, hitting $240.28. The company’s stock had a trading volume of 47,745 shares, compared to its average volume of 1,171,917. The stock has a market capitalization of $71.70 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 3.57 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The firm’s fifty day moving average price is $244.49 and its 200-day moving average price is $254.22. 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 quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.