Madison Investment Advisors LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Madison Investment Advisors LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,327 shares of the industrial products company's stock, valued at approximately $4,393,000.

Several other hedge funds have also made changes to their positions in the business. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $33,000. Hager Investment Management Services LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $37,000. Finally, Asset Planning Inc acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insiders Place Their Bets

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction 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. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last 90 days. 1.26% of the stock is owned by company insiders.

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Illinois Tool Works Trading Up 0.3 %

Shares of ITW stock traded up $0.87 during trading hours on Wednesday, hitting $255.86. 890,983 shares of the company were exchanged, compared to its average volume of 931,088. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a fifty day moving average of $258.65 and a 200 day moving average of $260.74. The firm has a market cap of $75.10 billion, a PE ratio of 21.83, a PEG ratio of 4.56 and a beta of 1.13. 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 (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, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 2.34%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ITW. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Barclays lowered their target price on Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut 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 research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus price target of $268.30.

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.