Valley Brook Capital Group Inc. Has $1.54 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Valley Brook Capital Group Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,880 shares of the industrial products company’s stock after purchasing an additional 65 shares during the quarter. Illinois Tool Works accounts for 1.3% of Valley Brook Capital Group Inc.’s portfolio, making the stock its 21st biggest holding. Valley Brook Capital Group Inc.’s holdings in Illinois Tool Works were worth $1,540,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Illinois Tool Works by 3.1% during the 3rd quarter. Brown Advisory Inc. now owns 66,304 shares of the industrial products company’s stock valued at $15,271,000 after purchasing an additional 2,001 shares in the last quarter. Concord Wealth Partners increased its position in shares of Illinois Tool Works by 128.0% during the third quarter. Concord Wealth Partners now owns 2,882 shares of the industrial products company’s stock worth $664,000 after acquiring an additional 1,618 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Illinois Tool Works by 8.9% in the 3rd quarter. Lindbrook Capital LLC now owns 2,810 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 229 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Illinois Tool Works by 2.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 9,646 shares of the industrial products company’s stock valued at $2,222,000 after acquiring an additional 203 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Illinois Tool Works by 1.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,379 shares of the industrial products company’s stock valued at $21,506,000 after purchasing an additional 1,682 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $1.88 during trading hours on Friday, hitting $243.92. 929,954 shares of the company were exchanged, compared to its average volume of 1,218,462. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 2.07. The firm has a fifty day simple moving average of $258.75 and a 200 day simple moving average of $252.03. The stock has a market capitalization of $72.87 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.57 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. Research analysts predict that Illinois Tool Works Inc. will post 10.29 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Insider Activity

In related news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold a total of 139,471 shares of company stock valued at $35,970,816 over the last quarter. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. Barclays lowered their price objective on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $257.78.

About Illinois Tool Works

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.