Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,339,930 shares of the industrial products company’s stock after buying an additional 24,657 shares during the period. Dimensional Fund Advisors LP owned about 0.44% of Illinois Tool Works worth $326,181,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Aspire Private Capital LLC acquired a new position in Illinois Tool Works in the first quarter worth approximately $16,798,050,000. Creative Capital Management Investments LLC boosted its position in Illinois Tool Works by 145.2% during the first quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 61 shares during the period. Sturgeon Ventures LLP bought a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Illinois Tool Works by 43.5% in the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 165 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 50 shares during the period. Finally, WealthPLAN Partners LLC bought a new stake in shares of Illinois Tool Works in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,425 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $239.23, for a total transaction of $1,297,822.75. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,121,970.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITW. Morgan Stanley lifted their price target on shares of Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a research note on Thursday, August 3rd. Wells Fargo & Company lifted their price target on Illinois Tool Works from $235.00 to $240.00 in a report on Monday, July 10th. 3M reissued a “maintains” rating on shares of Illinois Tool Works in a report on Wednesday, May 3rd. Barclays boosted their target price on Illinois Tool Works from $203.00 to $210.00 in a research report on Monday, July 10th. Finally, Credit Suisse Group boosted their price objective on Illinois Tool Works from $281.00 to $292.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $238.27.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded down $0.07 during mid-day trading on Thursday, reaching $248.20. 418,693 shares of the company’s stock were exchanged, compared to its average volume of 1,071,990. The business’s fifty day simple moving average is $247.25 and its 200 day simple moving average is $238.34. The firm has a market capitalization of $75.05 billion, a PE ratio of 24.56, a P/E/G ratio of 4.32 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $180.27 and a one year high of $264.19. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 2.25.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.02. Illinois Tool Works had a return on equity of 94.14% and a net margin of 19.30%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the company posted $2.37 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 9.74 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 Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a $1.40 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.31. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s dividend payout ratio is presently 55.39%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.