123 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Millstone Evans Group LLC

Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 123 shares of the industrial products company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kingsview Wealth Management LLC raised its position in Illinois Tool Works by 17.2% during the third quarter. Kingsview Wealth Management LLC now owns 10,126 shares of the industrial products company’s stock valued at $2,654,000 after purchasing an additional 1,483 shares during the period. Swedbank AB lifted its position in Illinois Tool Works by 2.0% in the third quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after buying an additional 1,768 shares during the last quarter. Summit Trail Advisors LLC increased its position in Illinois Tool Works by 51.1% during the third quarter. Summit Trail Advisors LLC now owns 4,701 shares of the industrial products company’s stock valued at $1,239,000 after acquiring an additional 1,589 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Illinois Tool Works by 11.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after acquiring an additional 3,903 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $255.86 on Tuesday. The firm has a market capitalization of $75.09 billion, a P/E ratio of 21.83, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a 50 day moving average price of $258.60 and a 200 day moving average price of $260.66.

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

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 2.35%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ITW. Barclays set a $260.00 target price on Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday, March 10th. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $269.10.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last quarter. 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.