Burling Wealth Partners LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Burling Wealth Partners LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 23,714 shares of the industrial products company's stock, valued at approximately $6,013,000. Illinois Tool Works comprises 1.2% of Burling Wealth Partners LLC's holdings, making the stock its 22nd biggest holding.

A number of other institutional investors have also made changes to their positions in ITW. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Glass Jacobson Investment Advisors llc raised 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 purchasing an additional 84 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. Finally, Millstone Evans Group LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $31,000. 79.77% of the stock is owned by institutional investors.

Insider Activity

In other 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 sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays decreased their target price on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus decreased their target price on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $260.09.

Illinois Tool Works Stock Up 0.3 %

ITW stock traded up $0.72 during midday trading on Tuesday, hitting $240.84. The company's stock had a trading volume of 516,624 shares, compared to its average volume of 998,865. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company's fifty day moving average price is $247.11 and its 200 day moving average price is $257.01. The stock has a market capitalization of $70.65 billion, a P/E ratio of 20.56, a PEG ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

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.