5,250 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,250 shares of the industrial products company’s stock, valued at approximately $1,375,000.

Several other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $29,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $0.26 during midday trading on Wednesday, hitting $247.40. The stock had a trading volume of 621,405 shares, compared to its average volume of 1,239,335. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company has a market capitalization of $73.82 billion, a PE ratio of 24.37, a P/E/G ratio of 3.59 and a beta of 1.14. The firm’s fifty day moving average is $258.17 and its two-hundred day moving average is $252.34.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the firm earned $2.33 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,471 shares of company stock valued at $23,248,816. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $257.78.

About Illinois Tool Works

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.