Sage Mountain Advisors LLC Increases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Sage Mountain Advisors LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,440 shares of the industrial products company’s stock after acquiring an additional 215 shares during the period. Sage Mountain Advisors LLC’s holdings in Illinois Tool Works were worth $377,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Summit Global Investments boosted its holdings in Illinois Tool Works by 13.8% in the third quarter. Summit Global Investments now owns 1,115 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 135 shares during the period. RFG Advisory LLC raised its position in Illinois Tool Works by 5.3% in the third quarter. RFG Advisory LLC now owns 4,325 shares of the industrial products company’s stock worth $996,000 after acquiring an additional 217 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in Illinois Tool Works by 8.1% in the third quarter. Onyx Bridge Wealth Group LLC now owns 1,054 shares of the industrial products company’s stock worth $243,000 after acquiring an additional 79 shares in the last quarter. Montecito Bank & Trust raised its position in Illinois Tool Works by 2.1% in the third quarter. Montecito Bank & Trust now owns 3,636 shares of the industrial products company’s stock worth $837,000 after acquiring an additional 75 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Illinois Tool Works by 5.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,666 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Activity

In other 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the 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 completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 over the last 90 days. 1.26% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $250.00 on Tuesday. The stock’s fifty day moving average is $260.40 and its 200-day moving average is $251.19. 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 stock has a market capitalization of $74.69 billion, a PE ratio of 25.67, a PEG ratio of 3.68 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Equities research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company 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. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ITW shares. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Truist Financial started coverage on Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Citigroup upped 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. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.00.

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.