BHK Investment Advisors LLC Increases Stake in Illinois Tool Works Inc. (NYSE:ITW)

BHK Investment Advisors LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,392 shares of the industrial products company’s stock after buying an additional 60 shares during the period. BHK Investment Advisors LLC’s holdings in Illinois Tool Works were worth $607,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. True Wealth Design LLC increased its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works 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 owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

ITW has been the subject of several recent analyst reports. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. 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 research note on Thursday, December 19th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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 report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $261.24 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a 50-day simple moving average of $256.91 and a 200-day simple moving average of $258.73. The stock has a market capitalization of $76.67 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

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.