Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by BKM Wealth Management LLC

BKM Wealth Management LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,381 shares of the industrial products company’s stock after acquiring an additional 622 shares during the period. BKM Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,981,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Security National Bank acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 1.2 %

Shares of Illinois Tool Works stock traded down $2.92 during trading on Monday, hitting $234.04. 269,068 shares of the stock were exchanged, compared to its average volume of 1,185,783. The stock has a market cap of $69.84 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The firm’s 50-day moving average price is $243.51 and its 200 day moving average price is $253.84. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. 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 announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the company earned $2.33 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be given a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Finally, Truist Financial raised their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $256.44.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by corporate insiders.

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.