LM Advisors LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

LM Advisors LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,394 shares of the industrial products company's stock, valued at approximately $866,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $26,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the 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. This represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at $15,120,802.68. This trade represents a 46.78% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 0.6%

Shares of Illinois Tool Works stock traded up $1.51 during mid-day trading on Thursday, hitting $245.34. The stock had a trading volume of 713,545 shares, compared to its average volume of 1,013,344. The firm has a 50-day moving average of $240.51 and a two-hundred day moving average of $254.44. The firm has a market cap of $71.88 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. 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 12-month low of $214.66 and a 12-month high of $279.13.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.45%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ITW shares. UBS Group cut their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Evercore ISI decreased 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 research report on Monday, May 19th. Truist Financial lowered their price target on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Robert W. Baird raised their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.