Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Bokf Na

Bokf Na raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,476 shares of the industrial products company’s stock after purchasing an additional 416 shares during the period. Bokf Na’s holdings in Illinois Tool Works were worth $4,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Capital Research Global Investors grew its stake in Illinois Tool Works by 1.2% during the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the last quarter. Norges Bank acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $818,408,000. Fisher Asset Management LLC lifted its holdings in shares of Illinois Tool Works by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock valued at $773,234,000 after buying an additional 122,840 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Illinois Tool Works by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,363 shares of the industrial products company’s stock valued at $353,715,000 after buying an additional 26,089 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Illinois Tool Works by 11.0% in the 4th quarter. Schroder Investment Management Group now owns 1,001,113 shares of the industrial products company’s stock valued at $262,232,000 after buying an additional 99,175 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related 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 cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

ITW has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price target on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Truist Financial reduced their price objective on Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Barclays reduced their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $275.00 to $267.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Stifel Nicolaus boosted their price target on Illinois Tool Works from $259.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $253.30.

Illinois Tool Works Trading Up 0.4 %

ITW stock traded up $0.93 during trading on Monday, reaching $248.42. 122,907 shares of the stock traded hands, compared to its average volume of 1,159,466. The business’s 50 day moving average price is $240.92 and its 200-day moving average price is $251.29. The firm has a market capitalization of $74.13 billion, a PE ratio of 24.41, a P/E/G ratio of 3.77 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

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.