TFG Advisers LLC Increases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

TFG Advisers LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,173 shares of the industrial products company’s stock after purchasing an additional 51 shares during the quarter. Illinois Tool Works accounts for 1.0% of TFG Advisers LLC’s holdings, making the stock its 22nd largest holding. TFG Advisers LLC’s holdings in Illinois Tool Works were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Illinois Tool Works by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the period. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $4,180,000. Wesbanco Bank Inc. raised its stake in shares of Illinois Tool Works by 23.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 1,152 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Illinois Tool Works by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after acquiring an additional 12,065 shares in the last quarter. Finally, Ziegler Capital Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth $224,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ITW shares. Barclays lowered their target price on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Truist Financial raised their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup boosted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $257.78.

Check Out Our Latest Stock Analysis on Illinois Tool Works

Insiders Place Their Bets

In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 1.6 %

Illinois Tool Works stock traded down $3.90 during midday trading on Monday, hitting $238.85. The stock had a trading volume of 305,652 shares, compared to its average volume of 1,201,234. The business has a fifty day moving average price of $251.70 and a 200 day moving average price of $254.49. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The stock has a market cap of $71.27 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the business earned $2.33 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Illinois Tool Works Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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