Advisor Resource Council purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,698 shares of the industrial products company’s stock, valued at approximately $419,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Bell Investment Advisors Inc acquired a new position in shares of Illinois Tool Works in the third quarter valued at approximately $28,000. Ritter Daniher Financial Advisory LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC grew its position in shares of Illinois Tool Works by 106.0% in the third quarter. Eagle Bay Advisors LLC now owns 138 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 71 shares during the last quarter. Allegheny Financial Group LTD acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $29,000. Finally, Amplius Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $30,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
ITW opened at $201.77 on Friday. The company has a fifty day moving average price of $206.21 and a two-hundred day moving average price of $223.50. Illinois Tool Works Inc. has a 1-year low of $195.25 and a 1-year high of $249.81. The company has a market cap of $62.84 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.07. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th will be paid a dividend of $1.22 per share. The ex-dividend date is Wednesday, June 29th. This represents a $4.88 dividend on an annualized basis and a yield of 2.42%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.34%.
Several equities research analysts have weighed in on ITW shares. JPMorgan Chase & Co. upgraded Illinois Tool Works from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $262.00 to $255.00 in a research note on Monday, March 28th. Credit Suisse Group cut their target price on Illinois Tool Works from $267.00 to $261.00 in a research note on Wednesday, May 4th. UBS Group cut their target price on Illinois Tool Works to $243.00 and set a “na” rating for the company in a research note on Wednesday. Stifel Nicolaus cut their target price on Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating for the company in a research note on Monday, April 18th. Finally, Morgan Stanley dropped their price target on Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $233.50.
In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total transaction of $205,340.00. Following the completion of the sale, the executive vice president now owns 7,803 shares in the company, valued at approximately $1,602,268.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.
Illinois Tool Works Profile (Get Rating)
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.
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