Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 8.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,753 shares of the industrial products company’s stock after buying an additional 138 shares during the quarter. Kovack Advisors Inc.’s holdings in Illinois Tool Works were worth $444,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Illinois Tool Works by 12.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 1,000 shares during the period. Diversify Wealth Management LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $203,000. SteelPeak Wealth LLC increased its holdings in Illinois Tool Works by 4.8% in the third quarter. SteelPeak Wealth LLC now owns 1,057 shares of the industrial products company’s stock valued at $279,000 after buying an additional 48 shares in the last quarter. Financial Advocates Investment Management increased its holdings in Illinois Tool Works by 4.9% in the third quarter. Financial Advocates Investment Management now owns 4,051 shares of the industrial products company’s stock valued at $1,062,000 after buying an additional 190 shares in the last quarter. Finally, Goldstone Financial Group LLC purchased a new position in Illinois Tool Works in the third quarter valued at about $375,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ITW. Truist Financial increased their target price 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 increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on shares of 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. Finally, Wells Fargo & Company dropped their price objective on shares of 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $269.30.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 1.1 %

ITW stock opened at $263.99 on Friday. The stock has a market capitalization of $77.48 billion, a P/E ratio of 22.52, a PEG ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a 50 day moving average price of $257.00 and a two-hundred day moving average price of $259.13.

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 the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

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 $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works’s payout ratio is currently 51.19%.

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.