EP Wealth Advisors LLC Has $1.45 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

EP Wealth Advisors LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 42.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,718 shares of the industrial products company’s stock after buying an additional 1,698 shares during the period. EP Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,450,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ITW. Prudent Man Investment Management Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of 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 worth $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $31,000. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was 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 owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This 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, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup cut their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Barclays reduced their target price 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, Truist Financial dropped their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $253.67.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $242.40 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $71.11 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 4.56 and a beta of 1.12. The firm’s 50 day moving average is $243.34 and its 200-day moving average is $255.87. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. Sell-side analysts forecast 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. Shareholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.48%. Illinois Tool Works’s dividend 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.