Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 327.6% during the third quarter, HoldingsChannel reports. The firm owned 9,609 shares of the industrial products company’s stock after purchasing an additional 7,362 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Illinois Tool Works were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Illinois Tool Works in the second quarter valued at approximately $44,000. Ausdal Financial Partners Inc. grew its holdings in Illinois Tool Works by 5.4% during the third quarter. Ausdal Financial Partners Inc. now owns 1,267 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 65 shares during the period. IMA Wealth Inc. acquired a new position in Illinois Tool Works during the second quarter worth $1,381,000. Lcnb Corp grew its holdings in Illinois Tool Works by 2.3% during the second quarter. Lcnb Corp now owns 2,955 shares of the industrial products company’s stock worth $539,000 after acquiring an additional 67 shares during the period. Finally, Central Bank & Trust Co. grew its holdings in Illinois Tool Works by 36.2% during the third quarter. Central Bank & Trust Co. now owns 6,083 shares of the industrial products company’s stock worth $1,099,000 after acquiring an additional 1,616 shares during the period. Institutional investors and hedge funds own 79.83% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on Illinois Tool Works from $222.00 to $255.00 in a report on Thursday, February 2nd. Morgan Stanley upped their target price on Illinois Tool Works from $174.00 to $223.00 and gave the company an “underweight” rating in a report on Tuesday, February 7th. Barclays upped their target price on Illinois Tool Works from $172.00 to $184.00 and gave the company an “underweight” rating in a report on Thursday, January 5th. The Goldman Sachs Group upped their target price on Illinois Tool Works from $210.00 to $238.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Finally, Vertical Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating and lowered their target price for the company from $240.00 to $220.00 in a report on Tuesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $223.07.

Illinois Tool Works Stock Down 0.2 %

Shares of NYSE:ITW opened at $229.81 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $253.37. The stock’s fifty day simple moving average is $234.04 and its 200-day simple moving average is $217.85. The company has a market capitalization of $70.11 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the company earned $1.95 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 9.61 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 53.58%.

Insider Buying and Selling

In related news, CEO Ernest Scott Santi sold 235,656 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the transaction, the chief executive officer now directly owns 213,538 shares in the company, valued at $52,592,274.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the sale, the chief executive officer now directly owns 213,538 shares in the company, valued at $52,592,274.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the company’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $246.26, for a total value of $14,809,337.62. Following the sale, the insider now owns 40,072 shares of the company’s stock, valued at $9,868,130.72. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.

Illinois Tool Works Company Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.