SlateStone Wealth LLC Buys 240 Shares of Illinois Tool Works Inc. (NYSE:ITW)

SlateStone Wealth LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,283 shares of the industrial products company’s stock after purchasing an additional 240 shares during the quarter. SlateStone Wealth LLC’s holdings in Illinois Tool Works were worth $1,847,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. GWN Securities Inc. bought a new position in Illinois Tool Works in the 4th quarter worth $233,000. Gallacher Capital Management LLC raised its holdings in Illinois Tool Works by 17.5% in the 4th quarter. Gallacher Capital Management LLC now owns 1,002 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 149 shares during the period. Patten & Patten Inc. TN bought a new stake in Illinois Tool Works during the fourth quarter valued at about $223,000. Harbour Investments Inc. raised its holdings in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 44 shares during the period. Finally, Natixis Advisors LLC raised its holdings in Illinois Tool Works by 6.2% during the fourth quarter. Natixis Advisors LLC now owns 220,702 shares of the industrial products company’s stock valued at $55,961,000 after acquiring an additional 12,944 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $254.72 on Friday. The company has a market capitalization of $74.76 billion, a PE ratio of 21.73, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a 50 day moving average price of $257.83 and a 200-day moving average price of $260.34.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share 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. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup decreased their price target 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. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $269.10.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.