Syon Capital LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Syon Capital LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 26.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,345 shares of the industrial products company’s stock after purchasing an additional 913 shares during the quarter. Syon Capital LLC’s holdings in Illinois Tool Works were worth $1,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ITW. Nadler Financial Group Inc. purchased a new stake in Illinois Tool Works in the fourth quarter valued at about $227,000. Bailard Inc. increased its stake in shares of Illinois Tool Works by 5.3% in the fourth quarter. Bailard Inc. now owns 14,492 shares of the industrial products company’s stock worth $3,796,000 after acquiring an additional 731 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Illinois Tool Works by 1.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock valued at $1,590,000 after purchasing an additional 84 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Illinois Tool Works by 8.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 14,136 shares of the industrial products company’s stock valued at $3,710,000 after buying an additional 1,082 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Illinois Tool Works by 2.1% during the fourth quarter. Yousif Capital Management LLC now owns 73,752 shares of the industrial products company’s stock worth $19,319,000 after acquiring an additional 1,549 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $3.60 during trading on Thursday, reaching $248.16. The stock had a trading volume of 1,138,122 shares, compared to its average volume of 1,245,244. The firm’s 50 day moving average price is $260.33 and its two-hundred day moving average price is $251.30. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The stock has a market cap of $74.14 billion, a PE ratio of 25.84, a P/E/G ratio of 3.68 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33.

Illinois Tool Works (NYSE:ITW) last announced 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. The business 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%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 EPS. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Truist Financial initiated coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Barclays upped their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $257.00.

Insider Activity at Illinois Tool Works

In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 in the last three months. Corporate insiders own 0.88% 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.