116,489 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Wick Capital Partners LLC

Wick Capital Partners LLC purchased a new position in 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 116,489 shares of the industrial products company's stock, valued at approximately $291,000.

A number of other large investors have also modified their holdings of the business. Baron Wealth Management LLC raised its holdings in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after acquiring an additional 39 shares during the period. F M Investments LLC increased its holdings in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after purchasing an additional 42 shares during the period. Harbour Investments Inc. raised its stake in shares of Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after purchasing an additional 44 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Illinois Tool Works by 3.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock worth $398,000 after buying an additional 46 shares in the last quarter. Finally, Valmark Advisers Inc. raised its stake in shares of Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock valued at $2,343,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 0.4 %

Shares of ITW stock traded down $0.98 on Monday, hitting $241.34. 285,528 shares of the stock were exchanged, compared to its average volume of 1,005,586. The firm has a market capitalization of $70.80 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The business has a 50-day moving average of $245.26 and a 200 day moving average of $256.44. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business earned $2.44 EPS. The company's revenue was down 3.4% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.49%. Illinois Tool Works's payout ratio is 52.77%.

Analyst Ratings Changes

ITW has been the subject of a number of analyst reports. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Robert W. Baird upped their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday. Truist Financial lowered their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a 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 research report on Wednesday, February 19th. Finally, Evercore ISI decreased their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $256.73.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction on Friday, March 7th. The stock was 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 in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last quarter. 0.88% of the stock is currently owned by insiders.

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.