Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,831 shares of the industrial products company’s stock after selling 6,915 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Illinois Tool Works were worth $10,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Illinois Tool Works by 1.2% in 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 in the last quarter. Norges Bank bought a new stake in Illinois Tool Works in the fourth quarter worth about $818,408,000. Fisher Asset Management LLC lifted its holdings in 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 acquiring an additional 122,840 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Illinois Tool Works by 2.0% during 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 purchasing an additional 26,089 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake 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 worth $262,232,000 after purchasing an additional 99,175 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ITW. JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a 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 note on Wednesday, July 31st. Jefferies Financial Group reduced their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Stock Up 0.3 %

ITW stock traded up $0.67 during mid-day trading on Tuesday, hitting $249.27. The stock had a trading volume of 763,306 shares, compared to its average volume of 1,133,291. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company has a fifty day moving average of $241.64 and a 200 day moving average of $249.17. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $74.38 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.41 earnings per share. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm 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 of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.41%. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

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.