Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Kathmere Capital Management LLC

Kathmere Capital Management LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,698 shares of the industrial products company’s stock after acquiring an additional 340 shares during the period. Kathmere Capital Management LLC’s holdings in Illinois Tool Works were worth $992,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC raised its stake in shares of Illinois Tool Works by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after buying an additional 41 shares during the last quarter. Summit Financial LLC increased its position in Illinois Tool Works by 1.6% during the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 41 shares in the last quarter. Catalyst Financial Partners LLC raised its stake 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 valued at $463,000 after purchasing an additional 43 shares during the last quarter. PFG Advisors lifted its holdings in 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 in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in shares of Illinois Tool Works by 1.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after buying an additional 46 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.2 %

Shares of NYSE:ITW opened at $236.84 on Friday. The stock has a 50-day simple moving average of $243.51 and a 200-day simple moving average of $253.82. The stock has a market capitalization of $70.67 billion, a P/E ratio of 23.36, a PEG ratio of 3.53 and a beta of 1.11. 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 2.07, a quick ratio of 0.94 and a current ratio of 1.32.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ITW shares. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Barclays dropped their target price 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. 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. Finally, Wells Fargo & Company dropped 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. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $256.44.

Insider Activity

In other news, Director David Byron Smith, Jr. acquired 775 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the purchase, 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 filing with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

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.