Capital Investment Advisors LLC Purchases 421 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Capital Investment Advisors LLC raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,158 shares of the industrial products company’s stock after buying an additional 421 shares during the quarter. Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $3,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock valued at $6,675,473,000 after buying an additional 94,601 shares during the period. Northern Trust Corp lifted its stake in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after buying an additional 508,188 shares during the period. Geode Capital Management LLC lifted its stake in Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock valued at $1,620,491,000 after buying an additional 99,753 shares during the period. Capital Research Global Investors lifted its stake in Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company’s stock valued at $1,047,837,000 after buying an additional 71,934 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock valued at $873,071,000 after buying an additional 95,925 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI cut their target price on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Robert W. Baird increased their price target on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target for the company. in a report on Wednesday, May 7th. Finally, Barclays lowered their price target on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $253.42.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. acquired 872 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director now owns 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 0.6%

NYSE:ITW opened at $247.69 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $72.57 billion, a PE ratio of 21.13, a PEG ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The stock has a 50-day simple moving average of $239.64 and a 200 day simple moving average of $253.01.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. Illinois Tool Works’s payout ratio is presently 52.77%.

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.