Signaturefd LLC Has $1.63 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Signaturefd LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,576 shares of the industrial products company’s stock after purchasing an additional 225 shares during the quarter. Signaturefd LLC’s holdings in Illinois Tool Works were worth $1,631,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. F M Investments LLC lifted its stake in shares of Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after buying an additional 42 shares in the last quarter. Trust Co of the South lifted its stake in shares of Illinois Tool Works by 2.9% in the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock valued at $367,000 after buying an additional 42 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after buying an additional 44 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 45 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company’s stock valued at $355,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Citigroup increased 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. Robert W. Baird increased their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Barclays increased their target price on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Finally, UBS Group decreased their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.83.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 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, for a total transaction of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by insiders.

Illinois Tool Works Price Performance

ITW opened at $257.72 on Tuesday. The company has a market capitalization of $75.51 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 5.50 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. The firm has a 50-day moving average price of $247.83 and a 200-day moving average price of $249.43. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $1.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is 52.77%.

About Illinois Tool Works

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.