Sagespring Wealth Partners LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Sagespring Wealth Partners LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,942 shares of the industrial products company's stock, valued at approximately $999,000.

A number of other large investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after buying an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

NYSE:ITW traded up $0.88 during trading hours on Friday, hitting $230.68. The company's stock had a trading volume of 889,342 shares, compared to its average volume of 1,003,209. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week 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 business's 50-day moving average is $250.36 and its two-hundred day moving average is $258.12. The company has a market capitalization of $67.67 billion, a PE ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12.

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, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.60%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ITW shares. Citigroup reduced their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday. UBS Group cut their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Barclays cut their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Evercore ISI reduced 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, February 19th. Finally, StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $260.09.

Insider Transactions at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 50,502 shares in the company, 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. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

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.