Aptus Capital Advisors LLC Buys 2,135 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Aptus Capital Advisors LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 44.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,950 shares of the industrial products company's stock after buying an additional 2,135 shares during the quarter. Aptus Capital Advisors LLC's holdings in Illinois Tool Works were worth $1,768,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new position in Illinois Tool Works in the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Glass Jacobson Investment Advisors llc grew its holdings in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $31,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ITW shares. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Truist Financial lowered their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group reduced their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $256.73.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $241.09 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company's 50 day moving average is $244.86 and its 200 day moving average is $256.30. The company has a market cap of $70.73 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter last year, the company posted $2.44 earnings per share. The firm's revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

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.

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