FourThought Financial Partners LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

FourThought Financial Partners LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,970 shares of the industrial products company’s stock, valued at approximately $2,528,000.

A number of other large investors have also added to or reduced their stakes in ITW. Pensionfund Sabic boosted its holdings in shares of Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. grew its stake in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $1,729,000. Czech National Bank grew its stake in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Illinois Tool Works in the third quarter worth approximately $1,179,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $261.24 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a market cap of $76.67 billion, a P/E ratio of 22.29, a P/E/G ratio of 4.56 and a beta of 1.11. The business has a fifty day simple moving average of $256.91 and a 200 day simple moving average of $258.73.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were 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 represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several research reports. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $269.30.

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.