Focus Partners Wealth Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Focus Partners Wealth grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 29.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,694 shares of the industrial products company’s stock after buying an additional 12,454 shares during the period. Focus Partners Wealth’s holdings in Illinois Tool Works were worth $14,353,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

ITW has been the subject of several analyst reports. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. UBS Group lowered their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Finally, Barclays decreased their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $253.67.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’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 transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last 90 days. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 3.2%

NYSE:ITW opened at $250.17 on Tuesday. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. 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 market cap of $73.30 billion, a P/E ratio of 21.35, a P/E/G ratio of 4.56 and a beta of 1.12. The firm has a 50-day simple moving average of $243.12 and a 200-day simple moving average of $255.84.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 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 during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is currently 52.77%.

Illinois Tool Works 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.