Atlantic Private Wealth LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Atlantic Private Wealth LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 125 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baron Wealth Management LLC grew its position in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after buying an additional 39 shares during the last quarter. Cypress Capital Group grew its position in Illinois Tool Works by 1.2% during the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company’s stock worth $962,000 after purchasing an additional 43 shares during the last quarter. Harbour Investments Inc. grew its position in Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. grew its position in Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock worth $2,343,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Citigroup dropped their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Stock Performance

ITW opened at $256.46 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a fifty day moving average price of $258.24 and a 200 day moving average price of $260.45. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market cap of $75.27 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

About Illinois Tool Works

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.