Borer Denton & Associates Inc. Has $10.02 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Borer Denton & Associates Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,515 shares of the industrial products company’s stock after buying an additional 544 shares during the quarter. Illinois Tool Works accounts for about 3.5% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 8th biggest holding. Borer Denton & Associates Inc.’s holdings in Illinois Tool Works were worth $10,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ausdal Financial Partners Inc. lifted its holdings in shares of Illinois Tool Works by 17.1% during the 4th quarter. Ausdal Financial Partners Inc. now owns 1,481 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 216 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $95,000. Meiji Yasuda Asset Management Co Ltd. increased its position in Illinois Tool Works by 3.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 36,595 shares of the industrial products company’s stock valued at $9,279,000 after purchasing an additional 1,290 shares during the period. Prestige Wealth Management Group LLC boosted its position in Illinois Tool Works by 8.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,298 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 97 shares during the last quarter. Finally, TIAA Trust National Association grew its stake in Illinois Tool Works by 5.7% during the fourth quarter. TIAA Trust National Association now owns 25,577 shares of the industrial products company’s stock worth $6,485,000 after purchasing an additional 1,370 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE:ITW opened at $254.93 on Wednesday. The business’s 50 day moving average is $258.65 and its 200 day moving average is $260.74. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The stock has a market cap of $74.82 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared 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 2.35%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITW. Truist Financial lifted their price target 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. Wells Fargo & Company lowered their target price 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. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. 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 given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.10.

Insider Activity

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly 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. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last quarter. Corporate insiders own 1.26% of the company’s stock.

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.