Tandem Investment Partners LLC Purchases Shares of 2,001 Illinois Tool Works Inc. (NYSE:ITW)

Tandem Investment Partners LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,001 shares of the industrial products company's stock, valued at approximately $507,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITW. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $28,000. Millstone Evans Group LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $31,000. Atlantic Private Wealth LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $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. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Up 2.5 %

NYSE:ITW traded up $5.59 on Friday, reaching $232.40. The company's stock had a trading volume of 1,451,463 shares, compared to its average volume of 1,007,240. The firm has a market cap of $68.18 billion, a PE ratio of 19.83, a PEG ratio of 4.56 and a beta of 1.12. 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 price is $252.30 and its two-hundred day moving average price is $258.95. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works 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 sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. Stifel Nicolaus decreased their price target on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Barclays reduced their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday. Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $264.09.

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.