Glass Jacobson Investment Advisors llc Purchases 84 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Glass Jacobson Investment Advisors llc increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 336.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109 shares of the industrial products company’s stock after buying an additional 84 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Illinois Tool Works were worth $28,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pensionfund Sabic raised its holdings in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Illinois Tool Works in the 4th quarter valued at $1,729,000. Czech National Bank lifted its position in Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Illinois Tool Works by 31.6% during the 4th quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company’s stock worth $3,976,000 after buying an additional 3,765 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 2.5 %

Shares of ITW opened at $232.40 on Friday. The firm has a market cap of $68.18 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. 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 52 week low of $214.66 and a 52 week high of $279.13. The firm’s 50-day simple moving average is $252.30 and its 200 day simple moving average is $258.95.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.58%. Illinois Tool Works’s payout ratio is presently 51.19%.

Insider Activity at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. Barclays dropped their target price on Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday. Evercore ISI cut their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Two research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $264.09.

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.