Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Ethic Inc.

Ethic Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,440 shares of the industrial products company’s stock after buying an additional 4,131 shares during the quarter. Ethic Inc.’s holdings in Illinois Tool Works were worth $12,536,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc lifted its stake in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays decreased their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Truist Financial decreased their price objective on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Robert W. Baird raised their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective on the stock. in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.67.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $243.07 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a fifty day moving average of $243.59 and a 200 day moving average of $255.97. The firm has a market cap of $71.31 billion, a PE ratio of 20.74, 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.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is 52.77%.

Insider Activity at Illinois Tool Works

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 $13,698,667.50. This trade represents a 45.09 % 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. In the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. 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.