9,853 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Integras Partners LLC

Integras Partners LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,853 shares of the industrial products company’s stock, valued at approximately $2,499,000. Illinois Tool Works accounts for approximately 2.1% of Integras Partners LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently made changes to their positions in the company. Baron Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 39 shares during the period. Harbour Investments Inc. boosted its position in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the period. TrinityPoint Wealth LLC boosted its position in Illinois Tool Works by 1.0% in the 3rd quarter. TrinityPoint Wealth LLC now owns 4,208 shares of the industrial products company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Cypress Capital Group boosted its position in Illinois Tool Works by 1.2% in the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company’s stock valued at $962,000 after buying an additional 43 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ITW shares. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Finally, Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $269.10.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.4 %

NYSE ITW opened at $250.26 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $73.45 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a 50 day moving average price of $257.79 and a 200 day moving average price of $260.23. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.40%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Illinois Tool Works 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.