Schrum Private Wealth Management LLC Invests $431,000 in Illinois Tool Works Inc. (NYSE:ITW)

Schrum Private Wealth Management LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,700 shares of the industrial products company’s stock, valued at approximately $431,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Freestone Capital Holdings LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth about $243,000. Raymond James Financial Inc. bought a new position in Illinois Tool Works during the 4th quarter valued at approximately $203,949,000. Cullen Frost Bankers Inc. boosted its holdings in Illinois Tool Works by 3.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 10,208 shares of the industrial products company’s stock worth $2,588,000 after acquiring an additional 332 shares in the last quarter. Sound Financial Strategies Group LLC grew its stake in shares of Illinois Tool Works by 14.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 3,335 shares of the industrial products company’s stock worth $846,000 after acquiring an additional 417 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Illinois Tool Works by 44.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $261.14 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a fifty day simple moving average of $257.05 and a 200-day simple moving average of $259.68. The stock has a market cap of $76.65 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ITW shares. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $269.30.

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.