Roberts Glore & Co. Inc. IL Has $3.50 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Roberts Glore & Co. Inc. IL lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,820 shares of the industrial products company’s stock after selling 40 shares during the quarter. Illinois Tool Works comprises approximately 1.0% of Roberts Glore & Co. Inc. IL’s investment portfolio, making the stock its 22nd biggest position. Roberts Glore & Co. Inc. IL’s holdings in Illinois Tool Works were worth $3,504,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in Illinois Tool Works during the fourth quarter worth approximately $40,000. Atlantic Union Bankshares Corp grew its position in Illinois Tool Works by 0.7% during the fourth quarter. Atlantic Union Bankshares Corp now owns 24,688 shares of the industrial products company’s stock worth $6,260,000 after buying an additional 174 shares in the last quarter. Lifeworks Advisors LLC lifted its stake in Illinois Tool Works by 13.2% during the fourth quarter. Lifeworks Advisors LLC now owns 15,275 shares of the industrial products company’s stock worth $3,873,000 after purchasing an additional 1,781 shares during the last quarter. Arjuna Capital bought a new stake in Illinois Tool Works during the fourth quarter worth $1,458,000. Finally, PNC Financial Services Group Inc. lifted its stake in Illinois Tool Works by 1.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,262,652 shares of the industrial products company’s stock worth $320,158,000 after purchasing an additional 15,586 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 3.7 %

Shares of NYSE:ITW opened at $274.89 on Friday. The firm has a market cap of $80.68 billion, a P/E ratio of 23.45, a P/E/G 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 Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The business has a fifty day simple moving average of $257.54 and a 200 day simple moving average of $260.05.

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 return on equity of 95.39% and a net margin of 21.94%. Analysts predict 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 declared 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 2.18%. Illinois Tool Works’s payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ITW shares. Evercore ISI cut their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Barclays cut their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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 firm’s stock in a transaction dated 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 trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company 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.