Regent Peak Wealth Advisors LLC Has $2.78 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Regent Peak Wealth Advisors LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,622 shares of the industrial products company’s stock after acquiring an additional 249 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITW. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works during the third quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $29,000. Quarry LP increased its position in shares of Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares during the period. Arlington Trust Co LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth $38,000. Finally, Union Savings Bank acquired a new stake in shares of Illinois Tool Works during the second quarter worth $39,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.5 %

NYSE:ITW traded down $1.30 during mid-day trading on Tuesday, reaching $263.93. 888,133 shares of the company’s stock traded hands, compared to its average volume of 1,285,308. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The firm has a market capitalization of $78.85 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.61 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a 50 day moving average price of $260.91 and a 200-day moving average price of $248.71.

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 analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $2.34 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company 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 is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ITW shares. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup raised their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Barclays lifted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $246.10.

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,471 shares of company stock worth $48,712,316. Company insiders own 1.26% of the company’s stock.

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.