EP Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 42.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,718 shares of the industrial products company's stock after purchasing an additional 1,698 shares during the quarter. EP Wealth Advisors LLC's holdings in Illinois Tool Works were worth $1,450,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock worth $6,675,473,000 after acquiring an additional 94,601 shares during the period. Northern Trust Corp increased its stake in shares of Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after purchasing an additional 99,753 shares during the period. Capital Research Global Investors lifted its stake in Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after purchasing an additional 71,934 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after purchasing an additional 95,925 shares during the period. 79.77% of the stock is currently owned by institutional investors.
Illinois Tool Works Price Performance
Shares of Illinois Tool Works stock traded down $3.79 on Wednesday, hitting $245.35. 1,252,266 shares of the company traded hands, compared to its average volume of 1,021,313. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $71.89 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.56 and a beta of 1.12. The firm's 50-day simple moving average is $242.81 and its 200 day simple moving average is $255.80.
Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly 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. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the business posted $2.44 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.
Illinois Tool Works Announces Dividend
The business 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.
Insiders Place Their Bets
In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the company'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 transaction, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on 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 sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. The trade was a 45.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last quarter. Insiders own 0.88% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on ITW shares. Citigroup dropped their price target on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial lowered their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. UBS Group reduced their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Barclays reduced their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. 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. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus price target of $253.67.
Read Our Latest Report on ITW
Illinois Tool Works Profile
(
Free Report)
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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