Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 11.0% in the 1st quarter, HoldingsChannel reports. The fund owned 4,027 shares of the industrial products company’s stock after acquiring an additional 400 shares during the period. Brookstone Capital Management’s holdings in Illinois Tool Works were worth $1,081,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares during the last quarter. Norges Bank purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $818,408,000. Fisher Asset Management LLC raised its position in shares of Illinois Tool Works by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after buying an additional 122,840 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Illinois Tool Works by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,363 shares of the industrial products company’s stock worth $353,715,000 after buying an additional 26,089 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its position in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

ITW opened at $236.96 on Friday. 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 cap of $70.71 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11. The business’s 50 day moving average is $243.51 and its 200-day moving average is $253.84. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders 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 dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays cut their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Wells Fargo & Company decreased their price target on 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. Citigroup lifted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.