Illinois Tool Works Inc. (NYSE:ITW) Stock Position Boosted by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 60.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,245 shares of the industrial products company’s stock after buying an additional 1,970 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Illinois Tool Works were worth $1,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Semanteon Capital Management LP bought a new position in Illinois Tool Works in the 4th quarter valued at about $305,000. Gould Asset Management LLC CA bought a new position in Illinois Tool Works in the 4th quarter valued at about $209,000. Abbrea Capital LLC boosted its position in shares of Illinois Tool Works by 6.0% during the 4th quarter. Abbrea Capital LLC now owns 2,324 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 132 shares in the last quarter. Syon Capital LLC grew its stake in shares of Illinois Tool Works by 26.6% in the 4th quarter. Syon Capital LLC now owns 4,345 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 913 shares during the last quarter. Finally, Nadler Financial Group Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $227,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW stock opened at $248.23 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a market cap of $74.16 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. The firm has a 50 day simple moving average of $260.04 and a 200 day simple moving average of $251.37. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. Research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $257.00.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is owned by company insiders.

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.