Tyche Wealth Partners LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,348 shares of the industrial products company’s stock, valued at approximately $2,972,000. Illinois Tool Works comprises 0.7% of Tyche Wealth Partners LLC’s portfolio, making the stock its 29th biggest position.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Cibc World Market Inc. boosted its holdings in Illinois Tool Works by 3.7% in the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock valued at $2,024,000 after purchasing an additional 348 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Illinois Tool Works by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock valued at $1,899,000 after purchasing an additional 368 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Illinois Tool Works by 54.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock worth $599,000 after acquiring an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Illinois Tool Works by 9.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 217 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Illinois Tool Works by 70.7% in the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 309 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.
Illinois Tool Works Stock Down 1.0 %
Shares of NYSE:ITW traded down $2.66 during trading hours on Tuesday, reaching $251.17. The stock had a trading volume of 1,032,092 shares, compared to its average volume of 1,254,056. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The firm’s 50 day moving average is $260.93 and its 200-day moving average is $250.52. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a market capitalization of $75.03 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.73 and a beta of 1.13.
Illinois Tool Works Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is presently 57.49%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on ITW. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Finally, Bank of America downgraded 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 research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $254.78.
View Our Latest Analysis on ITW
Insider Activity at Illinois Tool Works
In related news, 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 value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated 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 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. Insiders have sold 189,471 shares of company stock valued at $48,712,316 in the last ninety days. Insiders own 1.26% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Illinois Tool Works
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Silicon Motion Proves That AI in Motion Stays in Motion
- Best Aerospace Stocks Investing
- Undervalued UnitedHealth Group Won’t Be For Long
- Best Stocks Under $10.00
- The 5 Stocks Most Sold By Insiders This Year
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.