Curbstone Financial Management Corp Acquires 400 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Curbstone Financial Management Corp grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,444 shares of the industrial products company’s stock after acquiring an additional 400 shares during the quarter. Curbstone Financial Management Corp’s holdings in Illinois Tool Works were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional lifted its holdings in shares of Illinois Tool Works by 6.4% during the first quarter. CX Institutional now owns 2,303 shares of the industrial products company’s stock valued at $571,000 after acquiring an additional 138 shares during the period. Handelsbanken Fonder AB increased its position in Illinois Tool Works by 1.1% in the first quarter. Handelsbanken Fonder AB now owns 153,443 shares of the industrial products company’s stock worth $38,055,000 after purchasing an additional 1,706 shares during the period. SG Americas Securities LLC increased its position in Illinois Tool Works by 29.1% in the first quarter. SG Americas Securities LLC now owns 9,411 shares of the industrial products company’s stock worth $2,334,000 after purchasing an additional 2,119 shares during the period. Simplicity Wealth LLC acquired a new stake in Illinois Tool Works in the first quarter worth about $1,101,000. Finally, GAMMA Investing LLC grew its position in shares of Illinois Tool Works by 6.7% during the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company’s stock worth $2,066,000 after buying an additional 526 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $249.00 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock’s fifty day moving average price is $239.72 and its two-hundred day moving average price is $252.80. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The firm has a market cap of $72.96 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 4.56 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The firm 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%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. Illinois Tool Works’s payout ratio is 52.77%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the company’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 transaction, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their target price on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research report on Monday, May 19th. UBS Group reduced their price target on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $253.42.

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.