Madison Investment Advisors LLC Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Madison Investment Advisors LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,327 shares of the industrial products company’s stock, valued at approximately $4,393,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Hager Investment Management Services LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $37,000. Finally, Asset Planning Inc purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $40,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.9 %

ITW stock opened at $251.05 on Friday. 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 capitalization of $73.68 billion, a PE ratio of 21.42, a price-to-earnings-growth 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 company has a fifty day moving average of $258.48 and a 200-day moving average of $260.38.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $269.10.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works 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 transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last 90 days. Company insiders own 0.88% 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.