Illinois Tool Works Inc. (NYSE:ITW) gapped up prior to trading on Thursday . The stock had previously closed at $110.20, but opened at $110.59. Illinois Tool Works shares last traded at $111.33, with a volume of 474,289 shares changing hands.

Several equities research analysts have issued reports on ITW shares. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Deutsche Bank AG restated a “buy” rating on shares of Illinois Tool Works in a report on Sunday, April 17th. Robert W. Baird increased their price target on Illinois Tool Works from $92.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, April 21st. Argus increased their price target on Illinois Tool Works from $102.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, April 21st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $104.00 price target (up from $101.00) on shares of Illinois Tool Works in a report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.38.

The company has a market capitalization of $39.91 billion and a PE ratio of 21.30. The company’s 50-day moving average is $106.16 and its 200 day moving average is $99.20.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, April 20th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.03. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post $5.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Thursday, June 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, June 28th.

In other news, EVP Sundaram Nagarajan sold 4,560 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $501,600.00. Following the transaction, the executive vice president now directly owns 24,777 shares of the company’s stock, valued at approximately $2,725,470. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lei Zhang Schlitz sold 2,500 shares of the business’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $105.17, for a total value of $262,925.00. Following the completion of the transaction, the executive vice president now directly owns 992 shares in the company, valued at $104,328.64. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have made changes to their positions in ITW. State of Tennessee Treasury Department increased its position in shares of Illinois Tool Works by 505.4% in the fourth quarter. State of Tennessee Treasury Department now owns 308,775 shares of the company’s stock worth $28,617,000 after buying an additional 257,775 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $1,666,000. Dimensional Fund Advisors LP increased its position in shares of Illinois Tool Works by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 726,770 shares of the company’s stock worth $67,360,000 after buying an additional 35,663 shares in the last quarter. Stephens Inc. AR increased its position in shares of Illinois Tool Works by 87.3% in the fourth quarter. Stephens Inc. AR now owns 31,677 shares of the company’s stock worth $2,936,000 after buying an additional 14,764 shares in the last quarter. Finally, Veritable L.P. increased its position in shares of Illinois Tool Works by 1.2% in the fourth quarter. Veritable L.P. now owns 23,062 shares of the company’s stock worth $2,137,000 after buying an additional 280 shares in the last quarter.

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.