Millburn Ridgefield Corp Acquires Shares of 1,025 Illinois Tool Works Inc. (NYSE:ITW)

Millburn Ridgefield Corp purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,025 shares of the industrial products company’s stock, valued at approximately $260,000.

Several other hedge funds also recently added to or reduced their stakes in ITW. Allspring Global Investments Holdings LLC raised its stake in shares of Illinois Tool Works by 66.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 23,188 shares of the industrial products company’s stock valued at $6,077,000 after acquiring an additional 9,271 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Illinois Tool Works by 12.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock valued at $2,446,000 after purchasing an additional 1,000 shares in the last quarter. Joel Isaacson & Co. LLC lifted its holdings in shares of Illinois Tool Works by 7.6% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,337 shares of the industrial products company’s stock worth $612,000 after buying an additional 166 shares during the period. Outlook Wealth Advisors LLC grew its position in shares of Illinois Tool Works by 9.9% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 1,381 shares of the industrial products company’s stock worth $362,000 after buying an additional 124 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Illinois Tool Works by 14.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,884 shares of the industrial products company’s stock valued at $8,152,000 after buying an additional 3,797 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 0.5 %

Shares of ITW stock opened at $264.30 on Monday. The stock’s fifty day moving average price is $257.08 and its 200 day moving average price is $258.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a market cap of $77.57 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. Illinois Tool Works’s payout ratio is 51.19%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Finally, Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Company 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.