Private Advisor Group LLC Has $10.84 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Private Advisor Group LLC boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,374 shares of the industrial products company’s stock after purchasing an additional 1,270 shares during the quarter. Private Advisor Group LLC’s holdings in Illinois Tool Works were worth $10,837,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works during the third quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Illinois Tool Works in the 4th quarter valued at $29,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Sharon Szafranski sold 801 shares of the company’s 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 of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were 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 $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, 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. In the last quarter, insiders have sold 89,471 shares of company stock valued at $23,248,816. 1.26% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $2.20 during mid-day trading on Tuesday, reaching $247.39. 270,948 shares of the company’s stock were exchanged, compared to its average volume of 1,240,901. The firm has a market capitalization of $73.82 billion, a PE ratio of 24.18, a P/E/G ratio of 3.59 and a beta of 1.14. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The business’s fifty day simple moving average is $258.45 and its 200 day simple moving average is $252.17. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is currently 55.23%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Barclays dropped their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company cut 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, May 1st. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $257.78.

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.