Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 375.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,135 shares of the industrial products company’s stock after purchasing an additional 8,794 shares during the quarter. RWA Wealth Partners LLC’s holdings in Illinois Tool Works were worth $2,917,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Cornerstone Wealth Management LLC boosted its holdings in Illinois Tool Works by 2.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 41 shares during the period. Nicolet Advisory Services LLC boosted its holdings in Illinois Tool Works by 4.5% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 46 shares during the period. PFG Advisors boosted its holdings in Illinois Tool Works by 0.7% in the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares during the period. Crestwood Advisors Group LLC boosted its holdings in Illinois Tool Works by 1.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 46 shares during the period. Finally, Mcdonald Partners LLC boosted its holdings in Illinois Tool Works by 1.0% in the 3rd quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock worth $1,104,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,471 shares of company stock valued at $48,712,316. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. Citigroup increased their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus increased 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. Truist Financial started coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Barclays increased their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $257.00.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $250.64 on Wednesday. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The business’s fifty day moving average price is $260.38 and its two-hundred day moving average price is $251.30. The firm has a market capitalization of $74.88 billion, a PE ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. On average, research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

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.