Duality Advisers LP Invests $1.20 Million in Illinois Tool Works Inc. (NYSE:ITW)

Duality Advisers LP purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,596 shares of the industrial products company’s stock, valued at approximately $1,204,000.

Other hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. Bruce G. Allen Investments LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $250.64 on Wednesday. The stock has a market capitalization of $74.88 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company’s fifty day moving average is $260.38 and its two-hundred day moving average is $251.30.

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 the consensus estimate of $2.41 by $0.01. The business 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 business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial initiated coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays raised 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. Stifel Nicolaus upped their price target 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. Finally, 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $257.00.

Insider Activity

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

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.