Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Syon Capital LLC

Syon Capital LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 26.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,345 shares of the industrial products company’s stock after buying an additional 913 shares during the period. Syon Capital LLC’s holdings in Illinois Tool Works were worth $1,138,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ITW. Cornerstone Wealth Management LLC grew its stake in Illinois Tool Works by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after buying an additional 41 shares during the last quarter. Nicolet Advisory Services LLC grew its stake in Illinois Tool Works by 4.5% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after buying an additional 46 shares during the last quarter. PFG Advisors grew its stake in Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after buying an additional 46 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in Illinois Tool Works by 1.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 46 shares during the period. Finally, Mcdonald Partners LLC boosted its position in Illinois Tool Works by 1.0% during the 3rd quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock worth $1,104,000 after acquiring an additional 47 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ITW shares. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Barclays upped their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Citigroup upped their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Truist Financial assumed coverage on Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.00.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works 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 completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was 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 directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 over the last three months. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW traded down $3.60 during midday trading on Thursday, reaching $248.16. The company’s stock had a trading volume of 1,138,122 shares, compared to its average volume of 1,245,244. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The stock has a market cap of $74.14 billion, a P/E ratio of 25.84, a PEG ratio of 3.68 and a beta of 1.13. The company has a fifty day simple moving average of $260.33 and a 200 day simple moving average of $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.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio 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.