Plancorp LLC Has $278,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Plancorp LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 37.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,098 shares of the industrial products company’s stock after buying an additional 302 shares during the period. Plancorp LLC’s holdings in Illinois Tool Works were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mizuho Securities USA LLC increased its position in shares of Illinois Tool Works by 45.4% in the fourth quarter. Mizuho Securities USA LLC now owns 25,469 shares of the industrial products company’s stock valued at $6,458,000 after acquiring an additional 7,949 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $2,402,000. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $31,000. TD Private Client Wealth LLC increased its position in shares of Illinois Tool Works by 2.1% in the fourth quarter. TD Private Client Wealth LLC now owns 5,815 shares of the industrial products company’s stock valued at $1,474,000 after acquiring an additional 120 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $95,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $251.05 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock’s 50 day moving average is $258.48 and its 200-day moving average is $260.46. 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 market capitalization of $73.68 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results 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 return on equity of 95.39% and a net margin of 21.94%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared 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 is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI lowered their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on 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. Finally, Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $269.10.

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.