789 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Novus Advisors LLC

Novus Advisors LLC bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 789 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other large investors have also bought and sold shares of ITW. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC grew its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC bought a new position in Illinois Tool Works during the fourth quarter worth $33,000. Finally, Hager Investment Management Services LLC bought a new position in Illinois Tool Works during the fourth quarter worth $37,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated 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 transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $265.24 on Friday. The company’s 50-day simple moving average is $257.18 and its two-hundred day simple moving average is $259.71. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $77.85 billion, a P/E ratio of 22.63, a P/E/G ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Analyst Ratings Changes

Several research analysts have weighed in on ITW shares. Barclays lowered their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Finally, Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.