Sage Mountain Advisors LLC Purchases 1,212 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sage Mountain Advisors LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 66.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,042 shares of the industrial products company's stock after purchasing an additional 1,212 shares during the period. Sage Mountain Advisors LLC's holdings in Illinois Tool Works were worth $771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $37,000. Finally, Asset Planning Inc purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 4.7 %

ITW stock opened at $255.05 on Wednesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm's fifty day moving average is $257.83 and its 200 day moving average is $260.36. The firm has a market cap of $74.86 billion, a PE ratio of 21.76, a P/E/G ratio of 4.56 and a beta of 1.13.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its 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, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ITW. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Barclays set a $260.00 price target on Illinois Tool Works and gave the stock an "equal weight" rating in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Citigroup decreased 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 assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and an average target price of $269.10.

Insider Activity

In other news, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last quarter. Corporate insiders own 0.88% of the company's stock.

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.

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