Perbak Capital Partners LLP Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Perbak Capital Partners LLP purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,254 shares of the industrial products company's stock, valued at approximately $1,586,000. Illinois Tool Works makes up 0.8% of Perbak Capital Partners LLP's holdings, making the stock its 29th largest holding.

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

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Barclays dropped their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a report on Wednesday, February 19th. Stifel Nicolaus upped their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday. Finally, UBS Group lowered their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $256.73.

Illinois Tool Works Stock Up 1.3 %

Shares of ITW traded up $3.02 during midday trading on Friday, hitting $242.26. The company had a trading volume of 1,543,262 shares, compared to its average volume of 1,008,415. The company's 50 day moving average price is $245.26 and its 200 day moving average price is $256.47. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market cap of $71.07 billion, a price-to-earnings ratio of 20.67, a PEG 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 (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion for 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 firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the business posted $2.44 earnings per share. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS 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. Shareholders of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. Illinois Tool Works's payout ratio is currently 51.19%.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by 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.