Breed s Hill Capital LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Breed s Hill Capital LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 843 shares of the industrial products company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Illinois Tool Works by 5.0% in the third 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 in the last quarter. Northern Trust Corp lifted its position in shares of Illinois Tool Works by 1.9% during the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after acquiring an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after acquiring an additional 97,568 shares during the period. Fisher Asset Management LLC grew its position in shares of Illinois Tool Works by 4.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock valued at $773,234,000 after purchasing an additional 122,840 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock valued at $401,352,000 after purchasing an additional 22,238 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Ernest Scott Santi sold 45,676 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the completion of the sale, the chairman now directly owns 221,015 shares in the company, valued at $56,606,361.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 45,676 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,606,361.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,471 shares of company stock valued at $23,248,816 in the last quarter. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Up 0.9 %

NYSE:ITW traded up $2.33 during trading hours on Thursday, reaching $249.73. The company’s stock had a trading volume of 563,930 shares, compared to its average volume of 1,231,959. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market capitalization of $74.52 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 3.59 and a beta of 1.14. The firm has a 50-day simple moving average of $257.86 and a 200-day simple moving average of $252.30. 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 released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 10.29 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Analyst Ratings Changes

ITW has been the subject of a number of recent analyst reports. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Barclays reduced their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial upped their target price on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $257.78.

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.