Wick Capital Partners LLC Takes $291,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Wick Capital Partners LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,148 shares of the industrial products company's stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baron Wealth Management LLC raised its holdings in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after purchasing an additional 39 shares during the period. F M Investments LLC grew its position in shares of Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 42 shares during the period. Harbour Investments Inc. increased its stake in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after purchasing an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its stake in Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after buying an additional 47 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus lifted 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 note on Thursday, May 1st. Barclays dropped their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. Finally, UBS Group cut their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $253.42.

Illinois Tool Works Trading Down 0.8%

Shares of ITW traded down $2.03 during trading on Wednesday, reaching $244.67. 222,371 shares of the company traded hands, compared to its average volume of 1,013,665. The stock has a 50-day simple moving average of $240.65 and a 200-day simple moving average of $254.51. The company has a quick ratio of 0.99, a current ratio of 1.36 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 stock has a market cap of $71.69 billion, a PE ratio of 20.88, a price-to-earnings-growth 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 (EPS) 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 company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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 2.45%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction on 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 owns 50,502 shares in the company, valued at $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. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Company 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.