Stephens Inc. AR increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,327 shares of the industrial products company’s stock after buying an additional 4,038 shares during the quarter. Stephens Inc. AR’s holdings in Illinois Tool Works were worth $7,249,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tredje AP fonden boosted its position in shares of Illinois Tool Works by 1.1% during the 1st quarter. Tredje AP fonden now owns 32,524 shares of the industrial products company’s stock worth $5,121,000 after acquiring an additional 350 shares in the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Illinois Tool Works by 6.3% in the 2nd quarter. North Star Investment Management Corp. now owns 6,085 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 362 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Illinois Tool Works by 3.7% in the 1st quarter. KCM Investment Advisors LLC now owns 10,291 shares of the industrial products company’s stock valued at $1,612,000 after purchasing an additional 369 shares during the last quarter. Zeke Capital Advisors LLC lifted its holdings in shares of Illinois Tool Works by 6.5% in the 1st quarter. Zeke Capital Advisors LLC now owns 6,073 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 371 shares during the last quarter. Finally, Parisi Gray Wealth Management lifted its holdings in shares of Illinois Tool Works by 88.8% in the 1st quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 76.13% of the company’s stock.

Shares of ITW stock traded up $2.09 during mid-day trading on Friday, hitting $144.89. 1,269,420 shares of the company’s stock were exchanged, compared to its average volume of 1,423,000. The company has a quick ratio of 1.35, a current ratio of 1.73 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $47.51 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.81 and a beta of 1.24. Illinois Tool Works Inc. has a fifty-two week low of $134.45 and a fifty-two week high of $179.07.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 23rd. The industrial products company reported $1.97 earnings per share for the quarter, hitting the consensus estimate of $1.97. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. Illinois Tool Works had a return on equity of 56.74% and a net margin of 12.70%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $1.69 EPS. analysts anticipate that Illinois Tool Works Inc. will post 7.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Friday, September 28th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. This represents a $4.00 annualized dividend and a yield of 2.76%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.34%.

Illinois Tool Works announced that its Board of Directors has authorized a stock repurchase plan on Friday, August 3rd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the industrial products company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have commented on ITW shares. Morgan Stanley initiated coverage on Illinois Tool Works in a research note on Monday, August 20th. They set an “equal weight” rating and a $146.00 price objective for the company. Wells Fargo & Co reissued a “buy” rating and set a $160.00 target price (down from $170.00) on shares of Illinois Tool Works in a research note on Tuesday, July 24th. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Goldman Sachs Group cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $145.00 price target on the stock. in a report on Monday, July 23rd. Finally, MED cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $159.53.

In related news, Director Richard H. Lenny acquired 1,778 shares of the business’s stock in a transaction on Friday, July 27th. The shares were bought at an average cost of $140.85 per share, with a total value of $250,431.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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.

Featured Story: How to Invest in Marijuana Stocks

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.