Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,082 shares of the industrial products company’s stock after buying an additional 868 shares during the quarter. CoreCap Advisors LLC’s holdings in Illinois Tool Works were worth $1,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crestline Management LP acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at $2,820,000. Cetera Investment Advisers boosted its stake in shares of Illinois Tool Works by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 63,771 shares of the industrial products company’s stock valued at $16,170,000 after buying an additional 556 shares during the period. BOKF NA grew its position in shares of Illinois Tool Works by 0.6% during the fourth quarter. BOKF NA now owns 15,222 shares of the industrial products company’s stock worth $3,728,000 after buying an additional 95 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Illinois Tool Works by 3.8% during the fourth quarter. Captrust Financial Advisors now owns 41,225 shares of the industrial products company’s stock worth $10,453,000 after buying an additional 1,521 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $3,282,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the 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 completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last 90 days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 1.1 %

Shares of NYSE:ITW opened at $243.07 on Friday. The stock has a market capitalization of $71.31 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company’s fifty day moving average is $243.59 and its two-hundred day moving average is $255.97. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter 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 year.

Illinois Tool Works Dividend Announcement

The firm 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 yield of 2.47%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is 52.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Barclays cut their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works 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.