Illinois Tool Works Inc. (NYSE:ITW) Stock Position Increased by Evoke Wealth LLC

Evoke Wealth LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 47.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,639 shares of the industrial products company’s stock after purchasing an additional 525 shares during the quarter. Evoke Wealth LLC’s holdings in Illinois Tool Works were worth $418,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Hager Investment Management Services LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at about $37,000. Finally, Asset Planning Inc bought a new stake in Illinois Tool Works in the 4th quarter valued at about $40,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 0.7 %

NYSE ITW opened at $256.46 on Thursday. 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’s 50 day simple moving average is $258.24 and its 200 day simple moving average is $260.45. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $75.27 billion, a P/E ratio of 21.88, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 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%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. 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 dividend payout ratio (DPR) is currently 51.19%.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Jefferies Financial Group boosted their price target on shares of 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, Evercore ISI dropped their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $269.10.

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.