Sage Capital Advisors llc Purchases 150 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sage Capital Advisors llc raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,180 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Illinois Tool Works comprises 1.4% of Sage Capital Advisors llc’s portfolio, making the stock its 27th biggest position. Sage Capital Advisors llc’s holdings in Illinois Tool Works were worth $5,253,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ITW. Norges Bank bought a new position in Illinois Tool Works in the 4th quarter valued at $806,291,000. Raymond James Financial Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at $203,949,000. Cerity Partners LLC raised its holdings in shares of Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after buying an additional 655,341 shares during the last quarter. Northern Trust Corp lifted its position in Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock worth $3,465,570,000 after buying an additional 508,188 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after buying an additional 437,397 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

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 completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works 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 transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Up 0.6%

Shares of Illinois Tool Works stock opened at $245.34 on Friday. The business has a fifty day simple moving average of $240.30 and a 200 day simple moving average of $254.24. The stock has a market cap of $71.88 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research note on Monday, May 19th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Truist Financial cut their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $253.42.

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.