Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 137.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,840 shares of the industrial products company's stock after purchasing an additional 4,540 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Illinois Tool Works were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ITW. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 94,601 shares during the last quarter. Northern Trust Corp raised its position in Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after acquiring an additional 508,188 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock valued at $1,620,491,000 after acquiring an additional 99,753 shares during the period. Capital Research Global Investors boosted its position in Illinois Tool Works by 1.8% in the 4th quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after purchasing an additional 71,934 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock worth $873,071,000 after purchasing an additional 95,925 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $4.04 during mid-day trading on Tuesday, reaching $245.88. 241,792 shares of the stock traded hands, compared to its average volume of 1,014,655. The stock has a market capitalization of $72.04 billion, a PE ratio of 20.99, a PEG ratio of 4.56 and a beta of 1.12. The business has a 50-day moving average of $240.78 and a 200 day moving average of $254.57. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. 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 (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. On average, analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared 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 2.44%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ITW. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. 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. Stifel Nicolaus upped 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. Truist Financial lowered 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. Finally, Wall Street Zen lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $253.42.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred on 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 directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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. 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 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.