Aurdan Capital Management LLC Invests $2.09 Million in Illinois Tool Works Inc. (NYSE:ITW)

Aurdan Capital Management LLC bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,258 shares of the industrial products company's stock, valued at approximately $2,094,000.

Other institutional investors also recently bought and sold shares of the company. Baron Wealth Management LLC lifted its stake in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after acquiring an additional 39 shares during the period. F M Investments LLC lifted its stake in shares of Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after purchasing an additional 42 shares during the period. Harbour Investments Inc. lifted its stake in shares of Illinois Tool Works by 1.2% in the 4th 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 during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Illinois Tool Works by 3.0% in 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 period. Finally, Valmark Advisers Inc. lifted its stake in shares of 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 worth $2,343,000 after purchasing an additional 47 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.5%

Shares of NYSE ITW traded down $1.25 during midday trading on Friday, hitting $244.48. 329,574 shares of the company's stock were exchanged, compared to its average volume of 1,010,469. The company has a market cap of $71.63 billion, a PE ratio of 20.86, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm's fifty day simple moving average is $240.30 and its 200-day simple moving average is $254.24. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping 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 firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.45%. Illinois Tool Works's payout ratio is currently 52.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ITW. Citigroup lowered their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Truist Financial decreased their target price on shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price on the stock in a research note on Wednesday, February 19th. Bank of America cut shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research note on Wednesday, May 7th. Finally, Evercore ISI cut their price objective 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average price target of $253.42.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09% decrease in their position. The disclosure for this sale can be found here. 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.