Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,256 shares of the industrial products company’s stock after purchasing an additional 16,930 shares during the period. Jones Financial Companies Lllp’s holdings in Illinois Tool Works were worth $18,575,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $37,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company reduced their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Up 1.1 %

ITW stock opened at $263.99 on Monday. The firm’s 50-day moving average is $257.00 and its two-hundred day moving average is $259.42. The company has a market capitalization of $77.48 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

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.