Captrust Financial Advisors Buys 1,521 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Captrust Financial Advisors boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,225 shares of the industrial products company’s stock after purchasing an additional 1,521 shares during the quarter. Captrust Financial Advisors’ holdings in Illinois Tool Works were worth $10,453,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $806,291,000. Raymond James Financial Inc. acquired a new position in Illinois Tool Works during the 4th quarter valued at about $203,949,000. Cerity Partners LLC raised its stake in Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after buying an additional 655,341 shares during the last quarter. Northern Trust Corp boosted its holdings in Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock worth $3,465,570,000 after acquiring an additional 508,188 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Illinois Tool Works by 36,632.9% during the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after acquiring an additional 437,397 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value 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. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 0.2 %

Shares of ITW stock opened at $240.44 on Thursday. The stock has a 50 day simple moving average of $243.97 and a 200-day simple moving average of $256.08. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a market cap of $70.54 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 4.56 and a beta of 1.12. 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 posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the firm posted $2.44 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.50%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

Several analysts have weighed in on ITW shares. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research note on Wednesday. Robert W. Baird upped their target price on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Evercore ISI lowered their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $253.67.

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.