Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Davis R M Inc.

Davis R M Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,677 shares of the industrial products company’s stock after acquiring an additional 630 shares during the quarter. Davis R M Inc.’s holdings in Illinois Tool Works were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ITW. Norges Bank acquired a new stake in Illinois Tool Works during the 4th quarter worth about $818,408,000. Alecta Tjanstepension Omsesidigt lifted its position in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Illinois Tool Works by 122.7% in the 4th quarter. Corient Private Wealth LLC now owns 629,636 shares of the industrial products company’s stock worth $164,927,000 after purchasing an additional 346,919 shares during the period. International Assets Investment Management LLC raised its position in Illinois Tool Works by 23,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after buying an additional 313,906 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at about $65,747,000. 79.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.9 %

ITW traded down $2.21 during trading on Tuesday, hitting $243.18. The company’s stock had a trading volume of 215,517 shares, compared to its average volume of 1,169,050. The firm has a market capitalization of $72.56 billion, a P/E ratio of 24.21, a PEG ratio of 3.69 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock’s fifty day moving average price is $241.42 and its 200-day moving average price is $251.66.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the firm earned $2.33 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.16 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Friday, June 28th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ITW shares. Jefferies Financial Group decreased their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $259.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Truist Financial decreased their price objective on Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Citigroup upped their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $252.10.

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.