Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,611 shares of the industrial products company’s stock after purchasing an additional 681 shares during the period. Avantax Planning Partners Inc.’s holdings in Illinois Tool Works were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $37,000. Finally, Asset Planning Inc purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at approximately $40,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

NYSE:ITW opened at $267.47 on Tuesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock has a market cap of $78.50 billion, a PE ratio of 22.82, a P/E/G ratio of 4.56 and a beta of 1.13. 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 50 day moving average price of $257.80 and a 200 day moving average price of $260.30.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents 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. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ITW. Evercore ISI cut their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $269.10.

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.