1,257 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,257 shares of the industrial products company’s stock, valued at approximately $298,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cordatus Wealth Management LLC purchased a new stake in Illinois Tool Works in the 2nd quarter worth approximately $2,838,000. Triad Wealth Partners LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at approximately $65,000. Fiduciary Financial Group LLC purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at approximately $318,000. Swedbank AB lifted its stake in shares of Illinois Tool Works by 0.9% in the 2nd quarter. Swedbank AB now owns 86,247 shares of the industrial products company’s stock valued at $20,437,000 after purchasing an additional 753 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its stake in shares of Illinois Tool Works by 57.3% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 3,201 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Barclays reduced their price objective on 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, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $250.75.

Illinois Tool Works Stock Up 0.7 %

Shares of Illinois Tool Works stock traded up $1.68 on Friday, reaching $241.94. The company’s stock had a trading volume of 895,133 shares, compared to its average volume of 1,156,388. The company has a market capitalization of $72.19 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 3.80 and a beta of 1.10. The firm’s fifty day simple moving average is $240.80 and its two-hundred day simple moving average is $249.75. 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.

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

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is presently 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.