BOK Financial Private Wealth Inc. Acquires New Position in Illinois Tool Works Inc. (NYSE:ITW)

BOK Financial Private Wealth Inc. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 247 shares of the industrial products company’s stock, valued at approximately $67,000.

Other large investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $26,000. Frazier Financial Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $26,000. Security National Bank purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITW. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial lowered their price objective on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays lowered their price objective on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday, July 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $254.00.

Illinois Tool Works Stock Down 1.2 %

Illinois Tool Works stock traded down $2.85 during mid-day trading on Friday, reaching $233.14. 1,312,075 shares of the company’s stock were exchanged, compared to its average volume of 983,387. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a fifty day moving average of $242.02 and a 200-day moving average of $253.09. The company has a market cap of $69.57 billion, a P/E ratio of 22.99, a P/E/G ratio of 3.47 and a beta of 1.10. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the business earned $2.33 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by insiders.

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.