Larson Financial Group LLC Has $834,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Larson Financial Group LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 32.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,107 shares of the industrial products company’s stock after purchasing an additional 753 shares during the quarter. Larson Financial Group LLC’s holdings in Illinois Tool Works were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Illinois Tool Works by 109.9% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,086 shares of the industrial products company’s stock worth $560,000 after buying an additional 1,092 shares during the period. GSA Capital Partners LLP bought a new position in Illinois Tool Works in the 1st quarter valued at $1,147,000. Proficio Capital Partners LLC raised its position in Illinois Tool Works by 3.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 44 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Illinois Tool Works in the 1st quarter valued at $1,177,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Illinois Tool Works by 3.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 14,564 shares of the industrial products company’s stock valued at $3,908,000 after purchasing an additional 462 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Up 0.8 %

Shares of Illinois Tool Works stock traded up $1.85 during trading on Wednesday, reaching $235.91. 853,024 shares of the company were exchanged, compared to its average volume of 1,177,603. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The business has a 50-day moving average price of $241.51 and a 200-day moving average price of $252.64. The firm has a market capitalization of $70.40 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 3.45 and a beta of 1.10.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm earned $2.33 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.19 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.37%. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a research report on Wednesday. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Barclays dropped their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $252.44.

View Our Latest Stock Report on ITW

Illinois Tool Works Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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