Pine Valley Investments Ltd Liability Co Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,139 shares of the industrial products company’s stock after acquiring an additional 101 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Illinois Tool Works were worth $2,572,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $28,000. True Wealth Design LLC grew its stake in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the third quarter worth about $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $37,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $264.41 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a 50 day simple moving average of $256.84 and a 200-day simple moving average of $258.91. The company has a market cap of $77.60 billion, a PE ratio of 22.56, a P/E/G ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

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.