Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,257 shares of the industrial products company’s stock after buying an additional 144 shares during the period. RWA Wealth Partners LLC’s holdings in Illinois Tool Works were worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baron Wealth Management LLC raised its stake in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares during the period. Harbour Investments Inc. raised its position in Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 46 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Illinois Tool Works by 0.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock worth $2,343,000 after buying an additional 47 shares during the period. Finally, Lyell Wealth Management LP grew its stake in shares of Illinois Tool Works by 4.9% in the fourth quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after buying an additional 47 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, 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. In the last three months, insiders sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $246.34 on Monday. The business has a 50 day moving average price of $258.40 and a 200 day moving average price of $260.83. 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 stock has a market cap of $72.27 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

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

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ITW shares. Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $268.30.

Illinois Tool Works 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.