Private Advisor Group LLC Has $10.84 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Private Advisor Group LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,374 shares of the industrial products company’s stock after buying an additional 1,270 shares during the quarter. Private Advisor Group LLC’s holdings in Illinois Tool Works were worth $10,837,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ITW. Vanguard Group Inc. grew 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 worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after acquiring an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 77.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock worth $137,538,000 after acquiring an additional 260,679 shares in the last quarter. Finally, Barclays PLC grew its position in Illinois Tool Works by 57.1% during the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock worth $161,131,000 after acquiring an additional 254,321 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Citigroup upped their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $257.78.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Ernest Scott Santi sold 45,676 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.12, for a total value of $11,698,537.12. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at $56,606,361.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,471 shares of company stock valued at $23,248,816. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Up 0.9 %

NYSE:ITW traded up $2.20 during mid-day trading on Tuesday, hitting $247.39. The company had a trading volume of 270,948 shares, compared to its average volume of 1,240,901. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The firm has a market cap of $73.82 billion, a P/E ratio of 24.18, a P/E/G ratio of 3.59 and a beta of 1.14. The business’s fifty day moving average is $258.45 and its two-hundred day moving average is $252.17.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. Illinois Tool Works’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

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.