Ascent Wealth Partners LLC Buys 276 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Ascent Wealth Partners LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,572 shares of the industrial products company’s stock after purchasing an additional 276 shares during the period. Illinois Tool Works makes up approximately 1.2% of Ascent Wealth Partners LLC’s holdings, making the stock its 25th largest holding. Ascent Wealth Partners LLC’s holdings in Illinois Tool Works were worth $7,222,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Essex Savings Bank grew its stake in shares of Illinois Tool Works by 14.5% in the 4th quarter. Essex Savings Bank now owns 4,214 shares of the industrial products company’s stock valued at $1,104,000 after purchasing an additional 535 shares during the period. Norris Perne & French LLP MI grew its position in Illinois Tool Works by 0.5% during the 4th quarter. Norris Perne & French LLP MI now owns 60,584 shares of the industrial products company’s stock worth $15,869,000 after acquiring an additional 288 shares during the last quarter. SevenBridge Financial Group LLC grew its position in Illinois Tool Works by 11.1% during the 4th quarter. SevenBridge Financial Group LLC now owns 2,401 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 240 shares during the last quarter. Palumbo Wealth Management LLC grew its position in Illinois Tool Works by 13.2% during the 4th quarter. Palumbo Wealth Management LLC now owns 8,327 shares of the industrial products company’s stock worth $2,181,000 after acquiring an additional 973 shares during the last quarter. Finally, Perfromance Wealth Partners LLC grew its position in Illinois Tool Works by 7.0% during the 4th quarter. Perfromance Wealth Partners LLC now owns 18,275 shares of the industrial products company’s stock worth $4,787,000 after acquiring an additional 1,203 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.6 %

Shares of NYSE:ITW traded down $1.51 during midday trading on Monday, hitting $266.82. The company had a trading volume of 397,842 shares, compared to its average volume of 1,282,493. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a market cap of $79.71 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 4.61 and a beta of 1.13. The firm has a fifty day simple moving average of $260.76 and a 200 day simple moving average of $248.53.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. On average, analysts predict that Illinois Tool Works Inc. will post 10.12 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 11th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.10%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Truist Financial initiated coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Citigroup increased their price objective on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Finally, Barclays increased their price objective on Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Monday, February 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $245.50.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the sale, the chief accounting officer now owns 8,870 shares in the company, valued at $2,273,292.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,471 shares of company stock worth $48,712,316. Corporate insiders own 1.26% 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.