Lifeworks Advisors LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,275 shares of the industrial products company's stock after purchasing an additional 1,781 shares during the period. Lifeworks Advisors LLC's holdings in Illinois Tool Works were worth $3,873,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $37,000. Institutional investors own 79.77% of the company's stock.
Illinois Tool Works Stock Up 3.7 %
Shares of NYSE ITW traded up $9.78 during mid-day trading on Friday, reaching $274.89. 2,321,003 shares of the company's stock traded hands, compared to its average volume of 1,054,398. The stock has a market cap of $80.68 billion, a P/E ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13. The business has a 50-day simple moving average of $257.54 and a 200 day simple moving average of $260.15. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.
Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data 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, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.
Illinois Tool Works Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's payout ratio is currently 51.19%.
Insider Activity at Illinois Tool Works
In related news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ITW. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Finally, Citigroup reduced their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average target price of $269.30.
Get Our Latest Stock Analysis on ITW
About Illinois Tool Works
(
Free Report)
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.
Further Reading
Before you consider Illinois Tool Works, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Illinois Tool Works wasn't on the list.
While Illinois Tool Works currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
