Atlantic Private Wealth LLC Invests $32,000 in Illinois Tool Works Inc. (NYSE:ITW)

Atlantic Private Wealth LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $37,000. Finally, Asset Planning Inc acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.7 %

Shares of Illinois Tool Works stock opened at $256.46 on Thursday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a 50 day moving average of $258.24 and a 200 day moving average of $260.45. 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 market capitalization of $75.27 billion, a P/E ratio of 21.88, a P/E/G 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, topping analysts’ consensus estimates 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, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent analyst reports. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research report on Monday, March 10th. Citigroup dropped 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. Evercore ISI dropped their price target on shares of 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. Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $269.10.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction 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 approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.