GWN Securities Inc. Buys Shares of 896 Illinois Tool Works Inc. (NYSE:ITW)

GWN Securities Inc. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 896 shares of the industrial products company’s stock, valued at approximately $233,000.

Other large investors also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at $37,000. Finally, Asset Planning Inc acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $256.17 on Tuesday. The stock’s 50-day moving average is $257.95 and its 200-day moving average is $260.47. The company has a market cap of $75.19 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ITW shares. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Citigroup reduced their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $269.10.

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.