Fidelis Capital Partners LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Fidelis Capital Partners LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 47.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,663 shares of the industrial products company’s stock after buying an additional 855 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Illinois Tool Works were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ITW. Cibc World Market Inc. lifted its position in shares of Illinois Tool Works by 3.7% during the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock worth $2,024,000 after buying an additional 348 shares during the last quarter. Cetera Investment Advisers raised its position 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 raised its position in 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 valued at $599,000 after purchasing an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. raised its position in 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 valued at $504,000 after purchasing an additional 217 shares during the last quarter. Finally, Covestor Ltd raised its position in Illinois Tool Works by 70.7% in the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several research reports. Truist Financial initiated coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Barclays upped their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $0.99 on Friday, reaching $249.82. 143,457 shares of the company were exchanged, compared to its average volume of 1,228,161. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The firm has a market cap of $74.63 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13. The company has a 50-day moving average of $260.64 and a 200-day moving average of $250.65.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping 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 business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. 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 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

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.