Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 61,664 shares of the industrial products company’s stock after buying an additional 8,027 shares during the period. Kestra Advisory Services LLC’s holdings in Illinois Tool Works were worth $16,549,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ITW. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Illinois Tool Works by 1.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock valued at $1,590,000 after purchasing an additional 84 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Illinois Tool Works during the 1st quarter valued at about $1,147,000. Norden Group LLC lifted its holdings in shares of Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Illinois Tool Works by 6.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after purchasing an additional 12,065 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Illinois Tool Works by 78.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after purchasing an additional 16,216 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.5 %

NYSE:ITW traded up $3.66 on Friday, reaching $247.49. The stock had a trading volume of 882,230 shares, compared to its average volume of 1,069,821. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a 50-day moving average of $240.92 and a 200 day moving average of $251.31. The stock has a market cap of $73.85 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 3.76 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th were given a $1.40 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research analyst reports. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Saturday, July 20th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $259.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Truist Financial cut their price target on shares of 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, JPMorgan Chase & Co. dropped their price objective on shares of Illinois Tool Works from $275.00 to $267.00 and set an “overweight” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $253.30.

Insider Activity at Illinois Tool Works

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

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.