Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Increased by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,468 shares of the industrial products company’s stock after buying an additional 289 shares during the period. Wealthspire Advisors LLC’s holdings in Illinois Tool Works were worth $3,266,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Catalyst Financial Partners LLC raised its stake in Illinois Tool Works by 2.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 43 shares during the period. Pioneer Trust Bank N A OR grew its holdings in shares of Illinois Tool Works by 4.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 34,489 shares of the industrial products company’s stock valued at $9,034,000 after purchasing an additional 1,580 shares during the last quarter. National Pension Service raised its position in shares of Illinois Tool Works by 2.0% during the 4th quarter. National Pension Service now owns 507,870 shares of the industrial products company’s stock worth $133,031,000 after purchasing an additional 9,724 shares during the period. Hyman Charles D lifted its holdings in shares of Illinois Tool Works by 6.3% in the 4th quarter. Hyman Charles D now owns 16,280 shares of the industrial products company’s stock worth $4,264,000 after purchasing an additional 962 shares during the last quarter. Finally, Everpar Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at approximately $740,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the sale, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. 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 three months. 1.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Illinois Tool Works Price Performance

NYSE ITW traded up $0.26 on Wednesday, reaching $247.40. The company’s stock had a trading volume of 617,090 shares, compared to its average volume of 1,239,335. The stock has a market cap of $73.82 billion, a PE ratio of 24.40, a PEG ratio of 3.59 and a beta of 1.14. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. 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’s 50 day moving average is $258.17 and its two-hundred day moving average is $252.34.

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

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

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.