13,606 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,606 shares of the industrial products company’s stock, valued at approximately $3,564,000. Illinois Tool Works comprises about 2.3% of Brendel Financial Advisors LLC’s investment portfolio, making the stock its 8th largest holding.

Several other large investors have also made changes to their positions in the business. Commerzbank Aktiengesellschaft FI lifted its position in shares of Illinois Tool Works by 67.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,324 shares of the industrial products company’s stock worth $871,000 after purchasing an additional 1,333 shares during the last quarter. Nikulski Financial Inc. raised its holdings in Illinois Tool Works by 8.7% in the 4th quarter. Nikulski Financial Inc. now owns 1,017 shares of the industrial products company’s stock valued at $266,000 after acquiring an additional 81 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Illinois Tool Works by 18.6% in the 4th quarter. Handelsbanken Fonder AB now owns 128,808 shares of the industrial products company’s stock valued at $33,740,000 after acquiring an additional 20,180 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at approximately $259,000. Finally, Signaturefd LLC raised its holdings in Illinois Tool Works by 1.8% in the 4th quarter. Signaturefd LLC now owns 6,622 shares of the industrial products company’s stock valued at $1,735,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several recent research reports. Citigroup upped their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Truist Financial initiated coverage on Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Stifel Nicolaus upped their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Barclays upped their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $257.00.

Insider Buying and Selling

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW traded up $1.63 during trading hours on Friday, reaching $250.46. 2,118,593 shares of the company’s stock were exchanged, compared to its average volume of 954,078. The stock has a market cap of $74.82 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The firm has a fifty day moving average of $260.53 and a 200-day moving average of $250.93. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $2.34 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

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.