Blair William & Co. IL Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Blair William & Co. IL raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 426,768 shares of the industrial products company’s stock after buying an additional 4,671 shares during the quarter. Blair William & Co. IL’s holdings in Illinois Tool Works were worth $108,211,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd lifted its position in Illinois Tool Works by 31.1% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 10,983 shares of the industrial products company’s stock valued at $2,878,000 after acquiring an additional 2,605 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Illinois Tool Works by 4.2% during the 3rd quarter. D.A. Davidson & CO. now owns 15,741 shares of the industrial products company’s stock valued at $4,125,000 after purchasing an additional 631 shares during the last quarter. FMR LLC boosted its position in shares of Illinois Tool Works by 4.1% in the 3rd quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock worth $261,666,000 after purchasing an additional 39,445 shares in the last quarter. Brooklyn Investment Group increased its position in Illinois Tool Works by 10.6% during the 3rd quarter. Brooklyn Investment Group now owns 1,904 shares of the industrial products company’s stock valued at $499,000 after buying an additional 183 shares in the last quarter. Finally, Avestar Capital LLC raised its stake in Illinois Tool Works by 25.7% in the third quarter. Avestar Capital LLC now owns 1,066 shares of the industrial products company’s stock valued at $279,000 after buying an additional 218 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last three months. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 0.3 %

Illinois Tool Works stock opened at $255.86 on Thursday. The firm has a market cap of $75.10 billion, a PE ratio of 21.83, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The stock’s 50 day simple moving average is $258.68 and its two-hundred day simple moving average is $260.70. 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 announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) 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%. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITW. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Truist Financial boosted their price objective 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. Jefferies Financial Group lifted their price target 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. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $268.30.

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.