Mcdaniel Terry & Co. Has $47.60 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Mcdaniel Terry & Co. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,715 shares of the industrial products company's stock after buying an additional 14,959 shares during the quarter. Illinois Tool Works comprises about 3.9% of Mcdaniel Terry & Co.'s holdings, making the stock its 6th largest position. Mcdaniel Terry & Co. owned approximately 0.06% of Illinois Tool Works worth $47,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Illinois Tool Works by 66.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company's stock valued at $6,077,000 after purchasing an additional 9,271 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $35,000. Foundations Investment Advisors LLC boosted its holdings in Illinois Tool Works by 7.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,525 shares of the industrial products company's stock valued at $400,000 after purchasing an additional 105 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Illinois Tool Works by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,299 shares of the industrial products company's stock valued at $1,651,000 after purchasing an additional 367 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $2,132,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of 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. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Evercore ISI decreased their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $269.30.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 0.5 %

NYSE:ITW traded down $1.25 on Friday, reaching $264.30. The stock had a trading volume of 918,393 shares, compared to its average volume of 965,335. 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 company has a 50-day moving average of $257.23 and a 200 day moving average of $258.12. The stock has a market cap of $77.57 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 4.52 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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 paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

About Illinois Tool Works

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.