Stonebrook Private Inc. Acquires 46 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Stonebrook Private Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.2% during the first quarter, HoldingsChannel.com reports. The fund owned 18,618 shares of the industrial products company’s stock after purchasing an additional 46 shares during the period. Illinois Tool Works makes up about 1.2% of Stonebrook Private Inc.’s holdings, making the stock its 21st biggest holding. Stonebrook Private Inc.’s holdings in Illinois Tool Works were worth $4,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new stake in Illinois Tool Works during the fourth quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works during the first quarter worth $26,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after buying an additional 84 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ITW. UBS Group cut their price objective on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. Barclays upped their price target on Illinois Tool Works from $237.00 to $240.00 and gave the company an “equal weight” rating in a research report on Wednesday. Evercore ISI dropped their price target on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research report on Monday, May 19th. Finally, Robert W. Baird increased their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. Three research 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. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $252.83.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was bought at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

ITW opened at $259.89 on Thursday. The stock’s 50 day simple moving average is $246.68 and its 200 day simple moving average is $249.52. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a market cap of $76.15 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 5.46 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the business posted $2.44 EPS. The business’s revenue was down 3.4% on a year-over-year basis. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced 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 2.31%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is presently 52.77%.

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.