PDS Planning Inc Has $598,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

PDS Planning Inc increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,357 shares of the industrial products company’s stock after buying an additional 127 shares during the quarter. PDS Planning Inc’s holdings in Illinois Tool Works were worth $598,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC increased its holdings in Illinois Tool Works by 1,060.0% during the 3rd 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 in the last quarter. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Hager Investment Management Services LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $37,000. Finally, Asset Planning Inc bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $40,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.6 %

NYSE:ITW opened at $254.58 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock’s fifty day moving average price is $258.07 and its two-hundred day moving average price is $260.48. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market cap of $74.72 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.56 and a beta of 1.13.

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 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITW. Evercore ISI reduced their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised 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. Jefferies Financial Group upped their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $269.10.

Insider Activity

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the company’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 transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares in the company, 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 have sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. 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.