HUB Investment Partners LLC Has $612,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

HUB Investment Partners LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,414 shares of the industrial products company’s stock after buying an additional 171 shares during the period. HUB Investment Partners LLC’s holdings in Illinois Tool Works were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $2,708,000. Teacher Retirement System of Texas lifted its position in shares of Illinois Tool Works by 56.9% in the fourth quarter. Teacher Retirement System of Texas now owns 198,887 shares of the industrial products company’s stock valued at $50,430,000 after buying an additional 72,107 shares during the last quarter. Strategic Financial Services Inc. boosted its stake in shares of Illinois Tool Works by 11.6% during the 4th quarter. Strategic Financial Services Inc. now owns 1,446 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 150 shares during the period. Atlantic Private Wealth LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $32,000. Finally, Generali Investments Management Co LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $4,268,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

ITW opened at $251.05 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market cap of $73.68 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business’s fifty day moving average is $258.48 and its 200-day moving average is $260.38.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of several research reports. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group increased 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. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. 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 note on Thursday, December 19th. Finally, Citigroup reduced their price target on 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.