Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5,481.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,409 shares of the industrial products company's stock after purchasing an additional 4,330 shares during the quarter. New Age Alpha Advisors LLC's holdings in Illinois Tool Works were worth $1,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC raised its holdings in 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 acquiring an additional 106 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $31,000. Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $33,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Stifel Nicolaus decreased their price target 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. 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 note on Wednesday, February 19th. Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $268.30.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded down $13.27 during trading hours on Thursday, reaching $239.16. 1,492,433 shares of the stock traded hands, compared to its average volume of 982,645. The company has a 50 day moving average price of $257.87 and a 200 day moving average price of $260.75. The firm has a market capitalization of $70.16 billion, a price-to-earnings ratio of 20.41, a P/E/G 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. 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 posted its quarterly 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 return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal 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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

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.