Townsquare Capital LLC Purchases 466 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Townsquare Capital LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,412 shares of the industrial products company’s stock after purchasing an additional 466 shares during the period. Townsquare Capital LLC’s holdings in Illinois Tool Works were worth $2,387,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nicolet Bankshares Inc. grew its holdings in shares of Illinois Tool Works by 3.0% during the fourth quarter. Nicolet Bankshares Inc. now owns 2,017 shares of the industrial products company’s stock valued at $511,000 after buying an additional 58 shares during the last quarter. Qtron Investments LLC bought a new position in Illinois Tool Works in the 4th quarter valued at about $643,000. Glass Jacobson Investment Advisors llc boosted its stake in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Heritage Trust Co bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $5,460,000. Finally, Argent Trust Co raised its stake in shares of Illinois Tool Works by 0.5% in the fourth quarter. Argent Trust Co now owns 24,792 shares of the industrial products company’s stock worth $6,286,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.9 %

Shares of ITW stock opened at $231.54 on Wednesday. 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 firm has a market cap of $67.92 billion, a P/E ratio of 19.76, a PEG ratio of 4.56 and a beta of 1.12. The company has a 50 day moving average of $251.41 and a 200-day moving average of $258.53. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its 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%. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.59%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of several recent research reports. Citigroup decreased their price target on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a report on Monday. Evercore ISI reduced their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating for the company in a research report on Monday. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $260.09.

Insider Activity

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works 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 completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 over the last quarter. Company insiders own 0.88% of the company’s stock.

About Illinois Tool Works

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.