Level Four Advisory Services LLC Has $2.42 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Level Four Advisory Services LLC increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,561 shares of the industrial products company’s stock after buying an additional 226 shares during the period. Level Four Advisory Services LLC’s holdings in Illinois Tool Works were worth $2,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC increased its position 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 buying an additional 106 shares during the last quarter. Millstone Evans Group LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth about $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $33,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ITW. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned 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, the stock presently has an average rating of “Hold” and an average target price of $268.30.

Illinois Tool Works Trading Down 2.2 %

Shares of NYSE ITW opened at $246.34 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year 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. The company has a 50-day moving average of $258.40 and a two-hundred day moving average of $260.73. The company has a market cap of $72.30 billion, a PE ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. As a group, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. Illinois Tool Works’s payout ratio is 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction 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 $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock valued at $42,973,845. 1.26% of the stock is currently owned by insiders.

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.