Aptus Capital Advisors LLC Acquires 1,290 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Aptus Capital Advisors LLC raised its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 102.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545 shares of the industrial products company’s stock after purchasing an additional 1,290 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Illinois Tool Works were worth $586,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc purchased a new position in Illinois Tool Works during the third quarter valued at approximately $25,000. Northwest Capital Management Inc purchased a new position in shares of Illinois Tool Works in the second quarter worth $28,000. Quarry LP lifted its holdings in shares of Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. Arlington Trust Co LLC purchased a new position in shares of Illinois Tool Works in the third quarter worth $38,000. Finally, Steward Financial Group LLC purchased a new position in shares of Illinois Tool Works in the second quarter worth $39,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Trading Up 0.5 %

ITW stock opened at $255.75 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $267.12. The stock has a market capitalization of $76.95 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 4.39 and a beta of 1.15. The firm’s fifty day simple moving average is $256.70 and its two-hundred day simple moving average is $244.20.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $2.34 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ITW shares. Barclays boosted their target price on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a report on Monday, February 5th. Citigroup boosted their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $239.33.

Get Our Latest Stock Analysis on Illinois Tool Works

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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