Boston Trust Walden Corp Has $48.29 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Boston Trust Walden Corp trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,769 shares of the industrial products company’s stock after selling 2,929 shares during the period. Boston Trust Walden Corp’s holdings in Illinois Tool Works were worth $48,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITW. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $26,000. Security National Bank acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Christopher J. Hasenberg Inc bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $34,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the transaction, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $1.68 during mid-day trading on Friday, hitting $241.94. 895,133 shares of the stock were exchanged, compared to its average volume of 1,156,388. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. The firm’s 50-day simple moving average is $240.80 and its 200 day simple moving average is $249.64. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The stock has a market capitalization of $72.19 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $2.41 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITW. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays cut their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $250.75.

Illinois Tool Works Company 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.