FormulaFolio Investments LLC Has $628,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)


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FormulaFolio Investments LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 42.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,083 shares of the industrial products company’s stock after purchasing an additional 915 shares during the period. FormulaFolio Investments LLC’s holdings in Illinois Tool Works were worth $628,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Radnor Capital Management LLC raised its position in Illinois Tool Works by 0.7% during the fourth quarter. Radnor Capital Management LLC now owns 7,734 shares of the industrial products company’s stock valued at $1,577,000 after buying an additional 50 shares during the period. Rosenberg Matthew Hamilton grew its stake in Illinois Tool Works by 32.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 208 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 51 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in Illinois Tool Works by 2.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,560 shares of the industrial products company’s stock valued at $511,000 after purchasing an additional 51 shares in the last quarter. Palisade Asset Management LLC grew its stake in Illinois Tool Works by 1.4% in the fourth quarter. Palisade Asset Management LLC now owns 3,867 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 54 shares in the last quarter. Finally, Equitable Holdings Inc. grew its stake in Illinois Tool Works by 3.8% in the fourth quarter. Equitable Holdings Inc. now owns 1,469 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 54 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors.

A number of research analysts have commented on ITW shares. UBS Group upgraded Illinois Tool Works from a “neutral” rating to a “buy” rating and boosted their target price for the company from $211.00 to $232.00 in a research note on Monday, January 4th. Jefferies Financial Group upped their price target on Illinois Tool Works from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 15th. The Goldman Sachs Group upgraded Illinois Tool Works from a “sell” rating to a “neutral” rating and upped their price target for the stock from $195.00 to $217.00 in a research note on Tuesday, January 19th. Barclays upped their price target on Illinois Tool Works from $207.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Robert W. Baird reiterated a “hold” rating on shares of Illinois Tool Works in a research note on Tuesday, February 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $204.41.

In related news, CEO Ernest Scott Santi sold 1,231 shares of the stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total transaction of $252,810.47. Following the sale, the chief executive officer now directly owns 295,172 shares in the company, valued at approximately $60,619,473.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. Corporate insiders own 0.79% of the company’s stock.

Illinois Tool Works stock opened at $219.95 on Thursday. The business has a 50 day moving average price of $213.43 and a two-hundred day moving average price of $205.68. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. The stock has a market cap of $69.61 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a 12 month low of $148.27 and a 12 month high of $228.77.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.79 by $0.23. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 6.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st will be issued a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.07%. Illinois Tool Works’s payout ratio is presently 58.84%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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