3,097 Shares in Illinois Tool Works Inc. $ITW Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,097 shares of the industrial products company’s stock, valued at approximately $824,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Illinois Tool Works by 7.2% during the third quarter. Brighton Jones LLC now owns 7,323 shares of the industrial products company’s stock worth $1,884,000 after buying an additional 489 shares in the last quarter. Ethic Inc. lifted its stake in shares of Illinois Tool Works by 16.1% in the 3rd quarter. Ethic Inc. now owns 54,175 shares of the industrial products company’s stock valued at $13,938,000 after purchasing an additional 7,519 shares during the last quarter. StoneX Group Inc. acquired a new stake in shares of Illinois Tool Works during the third quarter valued at about $313,000. Plancorp LLC raised its position in Illinois Tool Works by 11.8% in the third quarter. Plancorp LLC now owns 1,107 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 117 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Illinois Tool Works by 0.8% in the 3rd quarter. Alps Advisors Inc. now owns 32,495 shares of the industrial products company’s stock valued at $8,360,000 after buying an additional 256 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In other Illinois Tool Works news, Director Ernest Santi sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the completion of the sale, the director owned 266,333 shares in the company, valued at $78,000,945.71. This trade represents a 18.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 101,708 shares of company stock worth $29,546,740. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $288.01 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The firm has a market cap of $81.85 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 3.15 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 0.94 and a debt-to-equity ratio of 2.28. The company has a fifty day simple moving average of $272.22 and a 200 day simple moving average of $271.68.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.03. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 11.49 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 31st. Illinois Tool Works’s payout ratio is presently 61.32%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ITW. Citigroup lowered their price objective on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 28th. UBS Group set a $277.00 price objective on shares of Illinois Tool Works in a research note on Friday, October 9th. Truist Financial restated a “hold” rating and set a $293.00 target price (down from $297.00) on shares of Illinois Tool Works in a research report on Wednesday, October 28th. JPMorgan Chase & Co. lowered Illinois Tool Works from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $350.00 to $270.00 in a report on Friday, October 9th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $270.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $276.33.

Illinois Tool Works Profile

Illinois Tool Works Inc. (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions. ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.