SWS Partners Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

SWS Partners boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,072 shares of the industrial products company’s stock after purchasing an additional 400 shares during the quarter. SWS Partners’ holdings in Illinois Tool Works were worth $528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC grew its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.8 %

NYSE:ITW opened at $261.96 on Tuesday. The company has a market cap of $76.89 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a 50 day simple moving average of $257.09 and a two-hundred day simple moving average of $259.57. 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 issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued 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 2.29%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ITW shares. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. 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. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Finally, Stifel Nicolaus cut 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 report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $269.30.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’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 completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.

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.