Boston Family Office LLC Has $3 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Boston Family Office LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,820 shares of the industrial products company’s stock after selling 165 shares during the quarter. Boston Family Office LLC’s holdings in Illinois Tool Works were worth $2,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC increased its holdings 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 worth $30,000 after buying an additional 106 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works in the 4th quarter valued at $31,000. Finally, Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $32,000. 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 $248.31 on Tuesday. The stock’s 50-day moving average is $258.24 and its 200 day moving average is $260.83. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market cap of $72.84 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last posted 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 return on equity of 95.39% and a net margin of 21.94%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current 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 issued 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 2.42%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ITW shares. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target 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 stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. 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 company’s stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target 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.