Parkside Financial Bank & Trust Buys 74 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Parkside Financial Bank & Trust lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,361 shares of the industrial products company’s stock after purchasing an additional 74 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Illinois Tool Works were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PEAK6 Investments LLC boosted its position in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Illinois Tool Works during the 1st quarter worth about $1,147,000. Norden Group LLC boosted its position in shares of Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after purchasing an additional 25,144 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Illinois Tool Works by 6.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after acquiring an additional 12,065 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.3 %

ITW opened at $243.81 on Friday. The company has a 50 day moving average of $243.19 and a 200 day moving average of $248.85. The company has a market cap of $72.75 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 4.03 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $2.41 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.46%. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI lowered their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays lowered their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $250.22.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now directly owns 121,506 shares in the company, valued at $29,018,062.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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.