11,348 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,348 shares of the industrial products company's stock, valued at approximately $2,972,000. Illinois Tool Works comprises 0.7% of Tyche Wealth Partners LLC's portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Cibc World Market Inc. boosted its holdings in Illinois Tool Works by 3.7% in the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company's stock valued at $2,024,000 after purchasing an additional 348 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Illinois Tool Works by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company's stock valued at $1,899,000 after purchasing an additional 368 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Illinois Tool Works by 54.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company's stock worth $599,000 after acquiring an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Illinois Tool Works by 9.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company's stock worth $504,000 after acquiring an additional 217 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Illinois Tool Works by 70.7% in the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company's stock worth $156,000 after acquiring an additional 309 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.0 %

Shares of NYSE:ITW traded down $2.66 during trading hours on Tuesday, reaching $251.17. The stock had a trading volume of 1,032,092 shares, compared to its average volume of 1,254,056. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The firm's 50 day moving average is $260.93 and its 200-day moving average is $250.52. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a market capitalization of $75.03 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.73 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm posted $2.34 EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works's dividend payout ratio is presently 57.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a "buy" rating and a $301.00 price objective on the stock. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Wells Fargo & Company lowered shares of Illinois Tool Works from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an "underweight" rating in a report on Tuesday, April 2nd. Finally, Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and a consensus target price of $254.78.

Insider Activity at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares of the company's stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares of the company's stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 in the last ninety days. Insiders own 1.26% 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.

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