Advisors Capital Management LLC Acquires 150 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Advisors Capital Management LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,470 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Advisors Capital Management LLC’s holdings in Illinois Tool Works were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ITW. Vanguard Group Inc. raised its stake in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock valued at $6,675,473,000 after purchasing an additional 94,601 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock worth $1,620,491,000 after acquiring an additional 99,753 shares in the last quarter. Fisher Asset Management LLC increased its stake in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock valued at $873,071,000 after acquiring an additional 95,925 shares during the last quarter. Norges Bank acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $806,291,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Illinois Tool Works by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after purchasing an additional 32,607 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the firm’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 transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Trading Up 0.5 %

NYSE ITW opened at $233.44 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $68.48 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The business’s 50-day moving average price is $251.88 and its two-hundred day moving average price is $258.72.

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

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.57%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ITW shares. UBS Group decreased their price target on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Truist Financial upped their price objective on shares of 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, Barclays cut their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight 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.com, the company presently has an average rating of “Hold” and an average price target of $260.09.

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.