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

Wick Capital Partners LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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. Clarity Financial LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $315,000. Milestone Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $941,000. Heck Capital Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $739,000. MOKAN Wealth Management Inc. acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $1,096,000. Finally, EP Wealth Advisors LLC grew its holdings in Illinois Tool Works by 42.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock worth $1,450,000 after acquiring an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

ITW stock traded up $4.84 on Tuesday, hitting $246.68. The company's stock had a trading volume of 789,500 shares, compared to its average volume of 1,164,731. The firm has a 50 day moving average of $240.78 and a two-hundred day moving average of $254.57. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock has a market cap of $72.28 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. 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 (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating 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 the consensus estimate of $3.83 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. Illinois Tool Works's revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.43%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the company'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 transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $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. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup lowered their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a report on Wednesday, May 7th. Evercore ISI lowered their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. UBS Group reduced 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 research report on Monday, April 7th. Finally, Stifel Nicolaus boosted their price objective 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. Three equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $253.42.

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.