Cary Street Partners Financial LLC Purchases New Position in Illinois Tool Works Inc. (NYSE:ITW)

Cary Street Partners Financial LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,945 shares of the industrial products company's stock, valued at approximately $3,282,000.

Other large investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $28,000. Glass Jacobson Investment Advisors llc grew its position 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 during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $0.69 during trading on Friday, reaching $242.40. 809,912 shares of the company traded hands, compared to its average volume of 1,015,939. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a 50 day simple moving average of $243.34 and a 200-day simple moving average of $255.87. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The stock has a market capitalization of $71.02 billion, a PE ratio of 20.68, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI decreased their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. Citigroup lowered their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays cut their target price on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective on the stock. in a research report on Wednesday. Three 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $253.67.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is owned by insiders.

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.