Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Compass Ion Advisors LLC

Compass Ion Advisors LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,561 shares of the industrial products company’s stock after buying an additional 89 shares during the quarter. Compass Ion Advisors LLC’s holdings in Illinois Tool Works were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Raymond James Financial Inc. purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $203,949,000. Proficio Capital Partners LLC lifted its stake in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after acquiring an additional 437,397 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after acquiring an additional 308,935 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $254.58 on Wednesday. The company has a market cap of $74.72 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm’s fifty day simple moving average is $258.07 and its two-hundred day simple moving average is $260.48. The company has a quick ratio of 0.99, a current ratio of 1.36 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ITW shares. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group raised their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. 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. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $269.10.

Insider Buying and Selling

In other news, CFO Michael M. Larsen sold 41,472 shares of the company’s 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 transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Company 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.