Capital Planning Advisors LLC Purchases 118 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Capital Planning Advisors LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,814 shares of the industrial products company’s stock after purchasing an additional 118 shares during the period. Capital Planning Advisors LLC’s holdings in Illinois Tool Works were worth $2,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. GAMMA Investing LLC grew its holdings in shares of Illinois Tool Works by 26,372.8% in the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares during the last quarter. Auto Owners Insurance Co grew its holdings in shares of Illinois Tool Works by 55,978.4% in the first quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company’s stock worth $354,654,000 after purchasing an additional 1,427,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $293,928,000. Northern Trust Corp boosted its holdings in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after acquiring an additional 508,188 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Illinois Tool Works by 11.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company’s stock valued at $522,110,000 after acquiring an additional 209,671 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ITW shares. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target on the stock. in a report on Wednesday, May 7th. Barclays lifted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a report on Thursday, July 31st. Finally, Citigroup boosted their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $259.33.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $256.98 on Monday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The business has a 50-day simple moving average of $252.29 and a two-hundred day simple moving average of $249.99. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The firm has a market cap of $74.91 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 5.54 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. Illinois Tool Works’s revenue was up .6% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is currently 56.44%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director directly owned 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by insiders.

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.