Strategy Asset Managers LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Strategy Asset Managers LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,523 shares of the industrial products company’s stock after acquiring an additional 74 shares during the quarter. Strategy Asset Managers LLC’s holdings in Illinois Tool Works were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ITW. Brighton Jones LLC increased its holdings in shares of Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after acquiring an additional 277 shares during the period. FMR LLC increased its holdings in shares of Illinois Tool Works by 6.3% in the 4th quarter. FMR LLC now owns 1,061,654 shares of the industrial products company’s stock valued at $269,193,000 after acquiring an additional 63,195 shares during the period. Invesco Ltd. increased its holdings in shares of Illinois Tool Works by 4.2% in the 4th quarter. Invesco Ltd. now owns 1,943,570 shares of the industrial products company’s stock valued at $492,812,000 after acquiring an additional 77,626 shares during the period. FIL Ltd increased its holdings in shares of Illinois Tool Works by 86.8% in the 4th quarter. FIL Ltd now owns 9,253 shares of the industrial products company’s stock valued at $2,346,000 after acquiring an additional 4,300 shares during the period. Finally, Bank of Nova Scotia increased its holdings in shares of Illinois Tool Works by 2.6% in the 4th quarter. Bank of Nova Scotia now owns 36,870 shares of the industrial products company’s stock valued at $9,349,000 after acquiring an additional 927 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Citigroup lifted their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $259.33.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

NYSE:ITW opened at $257.63 on Thursday. The firm has a market cap of $75.10 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 5.52 and a beta of 1.09. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The company’s 50-day moving average is $251.82 and its two-hundred day moving average is $250.15. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.54 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is currently 52.59%.

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.