783 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Modern Wealth Management LLC

Modern Wealth Management LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 783 shares of the industrial products company’s stock, valued at approximately $202,000.

A number of other large investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 2.2 %

Shares of ITW opened at $246.34 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock has a fifty day moving average of $258.40 and a two-hundred day moving average of $260.64. 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 market capitalization of $72.30 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

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

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 in the last quarter. 1.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial upped their target price 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. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Barclays reduced their price objective on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have issued 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, the company currently has a consensus rating of “Hold” and an average target price of $268.30.

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.