NBW Capital LLC Increases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

NBW Capital LLC boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 35,401 shares of the industrial products company’s stock after buying an additional 286 shares during the period. Illinois Tool Works makes up 1.7% of NBW Capital LLC’s investment portfolio, making the stock its 19th largest position. NBW Capital LLC’s holdings in Illinois Tool Works were worth $8,976,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pensionfund Sabic raised its position in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. Clark & Stuart Inc acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank grew its holdings in Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works in the third quarter valued at approximately $1,179,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $261.96 on Tuesday. The business’s 50 day moving average price is $257.09 and its 200-day moving average price is $259.57. The firm has a market capitalization of $76.89 billion, a PE ratio of 22.35, a P/E/G ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Analysts Set New Price Targets

ITW has been the topic of several research analyst reports. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays dropped their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $269.30.

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.