Front Row Advisors LLC Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Front Row Advisors LLC lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,930 shares of the industrial products company’s stock after selling 270 shares during the quarter. Front Row Advisors LLC’s holdings in Illinois Tool Works were worth $1,941,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aspire Private Capital LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $16,798,050,000. Creative Capital Management Investments LLC lifted its stake in Illinois Tool Works by 145.2% in the first quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 61 shares during the period. Sturgeon Ventures LLP purchased a new stake in Illinois Tool Works in the first quarter worth $26,000. Quarry LP lifted its stake in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 49 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in 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 worth $40,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Trading Up 0.0 %

Shares of NYSE:ITW opened at $237.56 on Wednesday. The stock has a market capitalization of $71.84 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 4.25 and a beta of 1.15. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.11 and a current ratio of 1.59. The stock’s 50-day simple moving average is $246.32 and its two-hundred day simple moving average is $238.69. Illinois Tool Works Inc. has a 52-week low of $180.27 and a 52-week high of $264.19.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $2.41 earnings per share 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 firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm earned $2.37 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post 9.74 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.31. Illinois Tool Works’s dividend payout ratio (DPR) is 55.39%.

Analysts Set New Price Targets

A number of research firms have issued reports on ITW. Credit Suisse Group increased their price objective on Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Morgan Stanley increased their price objective on Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a report on Thursday, August 3rd. Citigroup increased their price objective on Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Barclays decreased their price objective on Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $237.18.

Illinois Tool Works Company 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.