780 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Petix & Botte Co

Petix & Botte Co purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, Holdings Channel reports. The firm purchased 780 shares of the industrial products company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works during the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.5 %

NYSE ITW traded up $1.23 during trading hours on Monday, reaching $245.15. 758,667 shares of the company traded hands, compared to its average volume of 1,252,317. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $73.24 billion, a PE ratio of 24.18, a PEG ratio of 3.59 and a beta of 1.14. The company has a 50 day moving average of $258.45 and a two-hundred day moving average of $252.17.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $2.33 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was 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 in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 139,471 shares of company stock worth $35,970,816 in the last ninety days. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial increased their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays dropped their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research report on Thursday. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $257.78.

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.