Jump Financial LLC Invests $309,000 in Illinois Tool Works Inc. (NYSE:ITW)

Jump Financial LLC acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,179 shares of the industrial products company’s stock, valued at approximately $309,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Vanguard Group Inc. grew its holdings in shares of Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its position in shares of Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after acquiring an additional 675,000 shares during the period. International Assets Investment Management LLC raised its stake in shares of Illinois Tool Works by 23,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after acquiring an additional 313,906 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 77.5% in the third quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after purchasing an additional 260,679 shares during the period. Finally, Barclays PLC grew its stake in Illinois Tool Works by 57.1% in the third quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock worth $161,131,000 after purchasing an additional 254,321 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays reduced their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $257.78.

Illinois Tool Works Stock Down 0.6 %

Illinois Tool Works stock opened at $240.07 on Friday. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The business has a fifty day moving average price of $254.61 and a 200-day moving average price of $254.13. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $71.64 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 3.58 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company earned $2.33 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.24 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

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.