RIA Advisory Group LLC Purchases Shares of 556 Illinois Tool Works Inc. (NYSE:ITW)

RIA Advisory Group LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 556 shares of the industrial products company’s stock, valued at approximately $146,000.

A number of other large investors have also made changes to their positions in ITW. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Bruce G. Allen Investments LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $29,000. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ITW shares. Barclays lifted their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Citigroup boosted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Truist Financial began coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $257.00.

Illinois Tool Works Stock Performance

NYSE ITW opened at $250.46 on Friday. The company has a market cap of $74.82 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.66 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The business’s 50 day moving average price is $260.53 and its 200-day moving average price is $250.79. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is 57.49%.

Insiders Place Their Bets

In related 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 directly owns 221,015 shares in the company, valued at approximately $56,321,252.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,471 shares of company stock worth $48,712,316. 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.