Moment Partners LLC Buys New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Moment Partners LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,140 shares of the industrial products company’s stock, valued at approximately $796,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pensionfund Sabic boosted its stake 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 worth $1,876,000 after buying an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $1,729,000. Czech National Bank increased its holdings in shares of 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 valued at $14,774,000 after purchasing an additional 3,227 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.3 %

Shares of ITW opened at $255.86 on Thursday. The stock has a 50 day moving average price of $258.68 and a 200 day moving average price of $260.70. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $75.10 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its 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%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on ITW shares. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Citigroup dropped their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Barclays reduced their price target on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $268.30.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction 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 directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last ninety days. Corporate insiders own 1.26% 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.