Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Capital Investment Advisors LLC

Capital Investment Advisors LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,235 shares of the industrial products company’s stock after purchasing an additional 307 shares during the quarter. Capital Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,899,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ITW. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $26,000. Security National Bank bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $28,000. Rakuten Securities Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $29,000. Finally, Christopher J. Hasenberg Inc bought a new position in Illinois Tool Works during the first quarter valued at about $32,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ITW shares. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Barclays dropped their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $250.75.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Down 0.2 %

ITW traded down $0.56 during midday trading on Friday, hitting $239.21. The company had a trading volume of 652,590 shares, compared to its average volume of 1,168,759. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $71.38 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 3.80 and a beta of 1.10. The stock’s 50 day moving average price is $240.94 and its 200 day moving average price is $250.53.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 earnings per share. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.25 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.51%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 59.17%.

Illinois Tool Works Company 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.