Signaturefd LLC Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Signaturefd LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,622 shares of the industrial products company’s stock after buying an additional 120 shares during the period. Signaturefd LLC’s holdings in Illinois Tool Works were worth $1,735,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth $357,000. abrdn plc boosted its stake in Illinois Tool Works by 70.4% during the 4th quarter. abrdn plc now owns 123,826 shares of the industrial products company’s stock worth $32,435,000 after purchasing an additional 51,170 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in Illinois Tool Works by 4.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 2,202 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 90 shares during the period. J.W. Cole Advisors Inc. boosted its stake in Illinois Tool Works by 389.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 6,987 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 5,560 shares during the period. Finally, Greenleaf Trust boosted its stake in Illinois Tool Works by 11.2% during the 4th quarter. Greenleaf Trust now owns 13,228 shares of the industrial products company’s stock worth $3,465,000 after purchasing an additional 1,327 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on ITW shares. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. In the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 0.7 %

Shares of NYSE ITW opened at $250.46 on Monday. 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 52 week low of $217.06 and a 52 week high of $271.15. The firm has a 50-day moving average price of $260.53 and a 200 day moving average price of $251.07. The stock has a market capitalization of $74.82 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

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.