Cozad Asset Management Inc. Purchases 249 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cozad Asset Management Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,100 shares of the industrial products company’s stock after acquiring an additional 249 shares during the quarter. Cozad Asset Management Inc.’s holdings in Illinois Tool Works were worth $1,919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Security National Bank acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works in the 2nd quarter valued at $30,000. Christopher J. Hasenberg Inc acquired a new stake in Illinois Tool Works in the 1st quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now directly owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 2.0 %

Shares of Illinois Tool Works stock opened at $244.73 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a market capitalization of $73.03 billion, a P/E ratio of 24.14, a P/E/G ratio of 4.03 and a beta of 1.10. The company has a 50 day moving average of $242.94 and a 200 day moving average of $248.96.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the firm posted $2.41 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays decreased their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Argus raised Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works 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.