Bryn Mawr Capital Management LLC Buys 1,970 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bryn Mawr Capital Management LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,245 shares of the industrial products company’s stock after acquiring an additional 1,970 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Illinois Tool Works were worth $1,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares in the last quarter. Northern Trust Corp increased its stake in Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after purchasing an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after purchasing an additional 97,568 shares in the last quarter. Stifel Financial Corp increased its stake in Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after purchasing an additional 22,238 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its stake in Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after purchasing an additional 675,000 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 0.0 %

NYSE ITW opened at $248.23 on Friday. The company has a market cap of $74.16 billion, a PE ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The stock has a 50 day moving average of $260.04 and a 200-day moving average of $251.37.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating 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 return on equity of 96.60% and a net margin of 18.36%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 EPS. On average, equities research 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 declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is 57.49%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial assumed 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. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Citigroup upped their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays upped their price target on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was 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 owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 in the last quarter. 0.88% of the stock is currently owned by insiders.

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.