Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,736 shares of the industrial products company’s stock after acquiring an additional 101 shares during the quarter. Annex Advisory Services LLC’s holdings in Illinois Tool Works were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ITW. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $26,000. Glass Jacobson Investment Advisors llc raised its stake in shares of Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on ITW shares. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective for the company. in a research note on Wednesday, May 7th. Wall Street Zen cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Citigroup reduced their price target on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Robert W. Baird lifted their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $253.42.

Illinois Tool Works Stock Down 0.2%

Illinois Tool Works stock opened at $245.93 on Friday. The stock has a market capitalization of $72.06 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The business has a 50 day simple moving average of $239.66 and a 200-day simple moving average of $253.35. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 52.77%.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction on Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director now owns 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Profile

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.