Atria Wealth Solutions Inc. Acquires 1,082 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Atria Wealth Solutions Inc. lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,136 shares of the industrial products company’s stock after buying an additional 1,082 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Illinois Tool Works were worth $3,710,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Yousif Capital Management LLC lifted its stake in shares of Illinois Tool Works by 2.1% during the 4th quarter. Yousif Capital Management LLC now owns 73,752 shares of the industrial products company’s stock valued at $19,319,000 after buying an additional 1,549 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $669,000. Trust Co of Kansas purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $204,000. Parkside Financial Bank & Trust lifted its stake in Illinois Tool Works by 9.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,229 shares of the industrial products company’s stock worth $322,000 after purchasing an additional 106 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Illinois Tool Works by 316.6% in the 4th quarter. Larson Financial Group LLC now owns 2,354 shares of the industrial products company’s stock worth $617,000 after purchasing an additional 1,789 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ITW shares. Citigroup boosted their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays upped their target price 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. Finally, Stifel Nicolaus upped their target price on shares of 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 equities 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 company currently has an average rating of “Hold” and a consensus price target of $257.00.

Insiders Place Their Bets

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, 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 worth $48,712,316 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $248.28 on Friday. The company has a market capitalization of $74.17 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The firm’s 50-day moving average is $260.04 and its 200 day moving average is $251.49. 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 (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

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.