Nadler Financial Group Inc. acquired a new position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 865 shares of the industrial products company’s stock, valued at approximately $227,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $26,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. bought a new position in Illinois Tool Works during the 4th quarter worth approximately $29,000. 79.77% of the stock is owned by institutional investors.
Illinois Tool Works Stock Up 0.3 %
NYSE:ITW traded up $0.72 on Friday, hitting $248.88. 251,587 shares of the company’s stock were exchanged, compared to its average volume of 1,232,704. The firm has a 50-day moving average price of $260.16 and a 200-day moving average price of $251.28. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market cap of $74.35 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.70 and a beta of 1.13.
Illinois Tool Works Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.
Insider Activity
In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was 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 $1,505,185.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ITW. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. 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. Citigroup raised their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays increased their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $257.00.
View Our Latest Report on Illinois Tool Works
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.
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