CWA Asset Management Group LLC Purchases 290 Shares of Illinois Tool Works Inc. (NYSE:ITW)

CWA Asset Management Group LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the industrial products company’s stock after acquiring an additional 290 shares during the quarter. CWA Asset Management Group LLC’s holdings in Illinois Tool Works were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Hexagon Capital Partners LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $26,000. Standard Family Office LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $39,000. Old North State Trust LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $42,000. JFS Wealth Advisors LLC raised its holdings in Illinois Tool Works by 51.0% in the third quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 80 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in Illinois Tool Works in the third quarter worth about $43,000. 79.83% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $229.81 on Friday. The business’s 50 day moving average price is $234.04 and its 200 day moving average price is $217.85. The firm has a market cap of $70.11 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.49 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $253.37. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.26). The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. Illinois Tool Works’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 9.61 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be given a $1.31 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio is presently 53.58%.

Analysts Set New Price Targets

A number of brokerages have commented on ITW. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Illinois Tool Works from $170.00 to $183.00 in a report on Friday, February 3rd. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $259.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. The Goldman Sachs Group boosted their target price on shares of Illinois Tool Works from $210.00 to $238.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. UBS Group boosted their target price on shares of Illinois Tool Works from $213.00 to $245.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Finally, Barclays upped their price objective on shares of Illinois Tool Works from $172.00 to $184.00 and gave the company an “underweight” rating in a report on Thursday, January 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $223.07.

Insiders Place Their Bets

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total value of $58,039,716.24. Following the sale, the chief executive officer now owns 213,538 shares in the company, valued at approximately $52,592,274.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the transaction, the insider now directly owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total value of $58,039,716.24. Following the transaction, the chief executive officer now directly owns 213,538 shares of the company’s stock, valued at $52,592,274.02. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Illinois Tool Works Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.