Montag A & Associates Inc. Purchases 270 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Montag A & Associates Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,053 shares of the industrial products company’s stock after acquiring an additional 270 shares during the quarter. Montag A & Associates Inc.’s holdings in Illinois Tool Works were worth $2,120,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc bought a new position in Illinois Tool Works in the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $29,000. Finally, Rakuten Securities Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $29,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 45,676 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,606,361.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on 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 $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ernest Scott Santi sold 45,676 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at $56,606,361.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,471 shares of company stock worth $23,248,816. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Citigroup boosted 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. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.78.

Illinois Tool Works Price Performance

NYSE:ITW traded up $2.33 on Thursday, reaching $249.73. The stock had a trading volume of 563,930 shares, compared to its average volume of 1,231,959. The company has a market capitalization of $74.52 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock has a fifty day moving average price of $257.86 and a 200-day moving average price of $252.30.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the business earned $2.33 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 55.23%.

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.