Stonebrook Private Inc. Makes New $4.85 Million Investment in Illinois Tool Works Inc. (NYSE:ITW)

Stonebrook Private Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,506 shares of the industrial products company's stock, valued at approximately $4,847,000. Illinois Tool Works makes up approximately 1.6% of Stonebrook Private Inc.'s investment portfolio, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of ITW. Exchange Traded Concepts LLC grew its holdings in Illinois Tool Works by 14.7% during the third quarter. Exchange Traded Concepts LLC now owns 1,101 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 141 shares during the period. Trust Co. of Toledo NA OH grew its holdings in Illinois Tool Works by 58.2% during the third quarter. Trust Co. of Toledo NA OH now owns 2,869 shares of the industrial products company's stock valued at $661,000 after purchasing an additional 1,055 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Illinois Tool Works by 2.0% in the third quarter. Valeo Financial Advisors LLC now owns 2,743 shares of the industrial products company's stock worth $632,000 after buying an additional 53 shares in the last quarter. Bfsg LLC lifted its position in shares of Illinois Tool Works by 17.4% in the third quarter. Bfsg LLC now owns 6,232 shares of the industrial products company's stock worth $1,435,000 after buying an additional 923 shares in the last quarter. Finally, Schmidt P J Investment Management Inc. lifted its position in shares of Illinois Tool Works by 0.6% in the third quarter. Schmidt P J Investment Management Inc. now owns 19,555 shares of the industrial products company's stock worth $4,398,000 after buying an additional 123 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 0.0 %

Shares of ITW traded up $0.12 during mid-day trading on Friday, reaching $248.28. 947,179 shares of the company's stock traded hands, compared to its average volume of 1,023,968. The stock has a market cap of $74.17 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. The stock's 50-day moving average is $260.04 and its two-hundred day moving average is $251.59. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. Illinois Tool Works's revenue was up .3% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.26%. Illinois Tool Works's dividend payout ratio (DPR) is currently 57.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ITW. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Citigroup boosted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Barclays boosted their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 2nd. Truist Financial started coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective on the stock. Finally, Wells Fargo & Company cut Illinois Tool Works from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $257.00.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares of the company's stock, valued at $2,273,292.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares of the company's stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last quarter. 0.88% of the stock is owned by corporate insiders.

About Illinois Tool Works

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.