Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by BHK Investment Advisors LLC

BHK Investment Advisors LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,392 shares of the industrial products company’s stock after acquiring an additional 60 shares during the period. BHK Investment Advisors LLC’s holdings in Illinois Tool Works were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Pensionfund Sabic boosted its stake in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Clark & Stuart Inc purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $1,729,000. Czech National Bank raised its holdings in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Illinois Tool Works in the 3rd quarter worth approximately $1,179,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ITW has been the subject of a number of analyst reports. Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays dropped their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $261.24 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a 50 day moving average price of $256.91 and a 200 day moving average price of $258.73. The stock has a market capitalization of $76.67 billion, a P/E ratio of 22.29, a PEG ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.