1,417 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Waterloo Capital L.P.

Waterloo Capital L.P. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,417 shares of the industrial products company’s stock, valued at approximately $359,000.

A number of other hedge funds also recently modified their holdings of ITW. Prudent Man Investment Management Inc. acquired a new position in Illinois Tool Works during the fourth quarter valued at $25,000. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $31,000. Atlantic Private Wealth LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. UBS Group cut their price objective on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $265.18.

Illinois Tool Works Stock Performance

Shares of ITW opened at $221.56 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a one year low of $215.46 and a one year high of $279.13. The company’s fifty day moving average price is $255.91 and its 200 day moving average price is $260.23. The company has a market capitalization of $65.00 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last ninety days. Insiders own 0.88% of the company’s stock.

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.