Proficio Capital Partners LLC Has $111.21 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Proficio Capital Partners LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 36,632.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,591 shares of the industrial products company’s stock after buying an additional 437,397 shares during the quarter. Proficio Capital Partners LLC owned about 0.15% of Illinois Tool Works worth $111,209,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nikulski Financial Inc. grew its stake in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Baron Wealth Management LLC grew its stake in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp grew its stake in Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.26% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 0.1 %

Shares of ITW opened at $261.18 on Friday. The firm has a market cap of $76.65 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a 50 day moving average price of $256.90 and a 200-day moving average price of $258.94.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued 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 is currently 51.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ITW shares. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Evercore ISI dropped their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Barclays dropped their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $269.30.

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.