Flputnam Investment Management Co. Has $2.13 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Flputnam Investment Management Co. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,142 shares of the industrial products company’s stock after buying an additional 404 shares during the period. Flputnam Investment Management Co.’s holdings in Illinois Tool Works were worth $2,133,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ITW. Moneta Group Investment Advisors LLC raised its holdings in shares of Illinois Tool Works by 106,553.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after purchasing an additional 7,178,474 shares during the period. Norges Bank bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $708,259,000. Morgan Stanley raised its holdings in shares of Illinois Tool Works by 59.2% in the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock valued at $1,011,459,000 after purchasing an additional 1,707,780 shares during the period. Vanguard Group Inc. raised its holdings in shares of Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last quarter. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $251.17 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $75.03 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 3.73 and a beta of 1.13. The firm’s 50 day simple moving average is $260.84 and its 200 day simple moving average is $250.67. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $2.34 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal 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 given 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 2.23%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITW shares. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Citigroup increased their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Barclays increased their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Truist Financial began coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $254.78.

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.