Thoroughbred Financial Services LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,345 shares of the industrial products company’s stock after acquiring an additional 352 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Illinois Tool Works were worth $624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pearl River Capital LLC bought a new position in Illinois Tool Works during the 4th quarter worth $25,000. Rational Advisors LLC raised its position in Illinois Tool Works by 1,492.3% during the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 194 shares during the last quarter. WP Advisors LLC bought a new position in Illinois Tool Works during the 1st quarter worth $28,000. Focused Wealth Management Inc bought a new position in Illinois Tool Works during the 4th quarter worth $38,000. Finally, Athena Capital Advisors LLC bought a new position in Illinois Tool Works during the 4th quarter worth $41,000. 78.58% of the stock is currently owned by institutional investors.

In related news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the sale, the insider now directly owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Hartnett sold 14,323 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total value of $2,199,296.65. Following the completion of the sale, the executive vice president now directly owns 31,695 shares of the company’s stock, valued at $4,866,767.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,142 shares of company stock valued at $15,992,093. Corporate insiders own 0.87% of the company’s stock.

Several brokerages recently issued reports on ITW. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a research report on Friday, February 1st. Citigroup set a $161.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research report on Friday, April 26th. Argus raised their target price on Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. Finally, Morgan Stanley set a $134.00 target price on Illinois Tool Works and gave the stock a “sell” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $142.59.

Shares of ITW stock traded up $2.62 during mid-day trading on Thursday, hitting $153.56. The company’s stock had a trading volume of 21,886 shares, compared to its average volume of 1,393,604. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $158.69. The company has a current ratio of 1.53, a quick ratio of 1.19 and a debt-to-equity ratio of 1.87. The firm has a market cap of $49.69 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.01. Illinois Tool Works had a return on equity of 72.74% and a net margin of 17.21%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company posted $1.90 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that Illinois Tool Works Inc. will post 7.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

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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.

See Also: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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