iSAM Funds UK Ltd Acquires New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

iSAM Funds UK Ltd acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,962 shares of the industrial products company's stock, valued at approximately $1,005,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. Merit Financial Group LLC raised its holdings in Illinois Tool Works by 22.4% in the 4th quarter. Merit Financial Group LLC now owns 8,242 shares of the industrial products company's stock valued at $2,090,000 after buying an additional 1,509 shares during the period. Ameritas Advisory Services LLC increased its stake in Illinois Tool Works by 18.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,069 shares of the industrial products company's stock worth $1,285,000 after purchasing an additional 773 shares during the period. Grove Bank & Trust increased its stake in Illinois Tool Works by 2.3% during the fourth quarter. Grove Bank & Trust now owns 2,581 shares of the industrial products company's stock worth $654,000 after purchasing an additional 58 shares during the period. City Holding Co. increased its stake in Illinois Tool Works by 0.9% during the fourth quarter. City Holding Co. now owns 8,678 shares of the industrial products company's stock worth $2,200,000 after purchasing an additional 75 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in Illinois Tool Works by 26.5% during the fourth quarter. Diversify Wealth Management LLC now owns 999 shares of the industrial products company's stock worth $245,000 after purchasing an additional 209 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ITW shares. Citigroup cut their price target 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 cut their price target 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. Evercore ISI cut their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works has an average rating of "Hold" and an average target price of $253.42.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 $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. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last three months. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW opened at $251.66 on Tuesday. The stock has a 50 day moving average price of $241.76 and a 200 day moving average price of $255.46. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $73.74 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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. 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 quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

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.

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