Compass Ion Advisors LLC Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Compass Ion Advisors LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,561 shares of the industrial products company’s stock after acquiring an additional 89 shares during the quarter. Compass Ion Advisors LLC’s holdings in Illinois Tool Works were worth $903,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Baron Wealth Management LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth approximately $228,000. Windle Wealth LLC increased its position in shares of Illinois Tool Works by 3.4% during the third quarter. Windle Wealth LLC now owns 26,093 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 851 shares during the period. Pathstone Holdings LLC raised its stake in shares of Illinois Tool Works by 2.0% in the third quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock valued at $13,590,000 after acquiring an additional 994 shares in the last quarter. Caprock Group LLC boosted its holdings in Illinois Tool Works by 4.8% in the third quarter. Caprock Group LLC now owns 8,650 shares of the industrial products company’s stock valued at $2,280,000 after purchasing an additional 399 shares during the period. Finally, OneAscent Financial Services LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $336,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $254.58 on Wednesday. The stock has a market cap of $74.72 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a 50 day moving average of $258.07 and a two-hundred day moving average of $260.48. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.36%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITW. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $269.10.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.