Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Raymond James & Associates

Raymond James & Associates boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 521,354 shares of the industrial products company’s stock after purchasing an additional 5,932 shares during the period. Raymond James & Associates’ holdings in Illinois Tool Works were worth $139,895,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of 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 valued at $6,035,292,000 after acquiring an additional 1,238,239 shares during the period. Northern Trust Corp lifted its stake in Illinois Tool Works by 1.9% in the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after buying an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Illinois Tool Works by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after buying an additional 97,568 shares in the last quarter. Norges Bank purchased a new position in Illinois Tool Works in the 4th quarter valued at about $818,408,000. Finally, Fisher Asset Management LLC lifted its stake 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 buying an additional 122,840 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 over the last 90 days. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Down 2.1 %

Shares of NYSE ITW traded down $5.13 during midday trading on Tuesday, reaching $244.11. 2,396,398 shares of the stock were exchanged, compared to its average volume of 1,260,638. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The company has a 50 day simple moving average of $259.72 and a 200 day simple moving average of $251.79. The stock has a market capitalization of $72.93 billion, a P/E ratio of 25.06, a PEG ratio of 3.65 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.34 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Barclays raised their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. 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 stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $257.00.

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.