Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 316.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,354 shares of the industrial products company’s stock after acquiring an additional 1,789 shares during the period. Larson Financial Group LLC’s holdings in Illinois Tool Works were worth $617,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 23,183.6% during the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock worth $82,579,000 after buying an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Illinois Tool Works by 77.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock worth $137,538,000 after buying an additional 260,679 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Illinois Tool Works by 57.1% during the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock worth $161,131,000 after buying an additional 254,321 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $250.64 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The stock has a market capitalization of $74.88 billion, a PE ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. The firm has a 50 day moving average of $260.38 and a two-hundred day moving average of $251.30.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the company posted $2.34 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.23%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ITW. Barclays raised their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Truist Financial assumed coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $257.00.

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.