Brookstone Capital Management Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Brookstone Capital Management boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,027 shares of the industrial products company’s stock after purchasing an additional 400 shares during the quarter. Brookstone Capital Management’s holdings in Illinois Tool Works were worth $1,081,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research analyst reports. Barclays reduced their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Wells Fargo & Company reduced their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Stifel Nicolaus increased their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Citigroup increased their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $256.44.

Insider Transactions at Illinois Tool Works

In related 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, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $236.96 on Friday. The business has a fifty day moving average of $243.51 and a two-hundred day moving average of $253.84. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock has a market cap of $70.71 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.53 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.22 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

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.