Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,142 shares of the industrial products company’s stock after purchasing an additional 404 shares during the period. Flputnam Investment Management Co.’s holdings in Illinois Tool Works were worth $2,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new stake in Illinois Tool Works during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $29,000. Finally, Quarry LP raised its holdings in shares of Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 49 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW stock opened at $251.17 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $75.03 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.73 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The firm has a 50 day moving average of $260.84 and a two-hundred day moving average of $250.67.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is 57.49%.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 over the last ninety days. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Barclays boosted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $254.78.

About Illinois Tool Works

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.