Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Increased by West Paces Advisors Inc.

West Paces Advisors Inc. boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,145 shares of the industrial products company’s stock after buying an additional 64 shares during the quarter. West Paces Advisors Inc.’s holdings in Illinois Tool Works were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baron Wealth Management LLC grew its stake in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after buying an additional 39 shares during the last quarter. F M Investments LLC increased its holdings in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 42 shares during the period. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after buying an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the period. Finally, Valmark Advisers Inc. grew its position in Illinois Tool Works by 0.5% during the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock worth $2,343,000 after buying an additional 47 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Down 0.5 %

Shares of ITW opened at $238.77 on Friday. The company has a market capitalization of $70.05 billion, a P/E ratio of 20.37, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business’s 50 day simple moving average is $245.71 and its 200-day simple moving average is $256.63. 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 announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.51%. Illinois Tool Works’s payout ratio is 51.19%.

Analyst Ratings Changes

Several analysts have recently weighed in on ITW shares. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial lowered their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group dropped their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Robert W. Baird upped their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Evercore ISI cut their price target 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $256.73.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the firm’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 transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % 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 over the last three months. 0.88% of the stock is owned by insiders.

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.