Nikulski Financial Inc. Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Nikulski Financial Inc. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,017 shares of the industrial products company’s stock after purchasing an additional 81 shares during the period. Nikulski Financial Inc.’s holdings in Illinois Tool Works were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Turtle Creek Wealth Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at $2,273,292.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 in the last quarter. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $250.46 on Monday. The firm has a market capitalization of $74.82 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.68 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The firm’s 50 day moving average is $260.53 and its two-hundred day moving average is $251.07.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm posted $2.34 EPS. The company’s revenue was up .3% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITW shares. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial began coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Finally, Barclays lifted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $257.00.

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.