RWA Wealth Partners LLC Has $2.92 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

RWA Wealth Partners LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 375.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,135 shares of the industrial products company’s stock after purchasing an additional 8,794 shares during the quarter. RWA Wealth Partners LLC’s holdings in Illinois Tool Works were worth $2,917,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITW. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $29,000. Finally, Rakuten Securities Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock worth $48,712,316 over the last ninety days. 1.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ITW shares. Truist Financial started coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Barclays upped their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Citigroup upped their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus upped their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned 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.

Illinois Tool Works Trading Up 0.3 %

NYSE:ITW opened at $250.64 on Wednesday. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The business’s 50-day moving average price is $260.38 and its two-hundred day moving average price is $251.30. 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 $74.88 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.67 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released 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. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts expect 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 declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

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.