Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Certuity LLC

Certuity LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,113 shares of the industrial products company’s stock after buying an additional 152 shares during the period. Certuity LLC’s holdings in Illinois Tool Works were worth $291,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ITW. Cornerstone Wealth Management LLC lifted its stake 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 in the last quarter. Nicolet Advisory Services LLC lifted its position in shares of Illinois Tool Works by 4.5% in the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 46 shares in the last quarter. PFG Advisors boosted its holdings in shares of Illinois Tool Works by 0.7% during the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 46 shares during the period. Crestwood Advisors Group LLC grew its position in Illinois Tool Works by 1.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 46 shares in the last quarter. Finally, Mcdonald Partners LLC increased its stake 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 valued at $1,104,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,471 shares of company stock valued at $48,712,316. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Down 0.8 %

ITW opened at $242.27 on Thursday. The firm has a market cap of $72.38 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 3.46 and a beta of 1.14. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.97 and a current ratio of 1.32. The business has a 50 day moving average price of $259.40 and a 200 day moving average price of $251.72. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the company earned $2.33 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that Illinois Tool Works Inc. will post 10.5 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. Illinois Tool Works’s payout ratio is presently 55.23%.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company dropped their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday. Truist Financial lifted their price target on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.89.

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.