Illinois Tool Works Inc. (NYSE:ITW) Stake Lifted by M. Kraus & Co

M. Kraus & Co lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,951 shares of the industrial products company’s stock after acquiring an additional 240 shares during the period. Illinois Tool Works accounts for about 3.6% of M. Kraus & Co’s investment portfolio, making the stock its 6th largest position. M. Kraus & Co’s holdings in Illinois Tool Works were worth $11,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ITW. Vanguard Group Inc. increased its position in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares in the last quarter. Northern Trust Corp increased its position in Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after purchasing an additional 244,145 shares in the last quarter. Norges Bank acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $818,408,000. Fisher Asset Management LLC increased its position in Illinois Tool Works by 4.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after purchasing an additional 122,840 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after purchasing an additional 22,238 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price 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 approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ITW. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Truist Financial increased their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Barclays reduced their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $256.44.

Get Our Latest Analysis on ITW

Illinois Tool Works Stock Performance

Shares of ITW traded down $2.93 during trading hours on Friday, reaching $240.40. 1,732,419 shares of the company’s stock traded hands, compared to its average volume of 1,180,325. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 3.57 and a beta of 1.11. 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 Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The business’s fifty day simple moving average is $244.72 and its two-hundred day simple moving average is $254.14.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 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%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. Analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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