Everpar Advisors LLC Invests $740,000 in Illinois Tool Works Inc. (NYSE:ITW)

Everpar Advisors LLC acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,824 shares of the industrial products company’s stock, valued at approximately $740,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. Bruce G. Allen Investments LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $29,000. Finally, Rakuten Securities Inc. bought a new position in Illinois Tool Works during the 4th quarter valued at about $29,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ITW shares. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Truist Financial raised their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised their price objective 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. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $257.78.

Illinois Tool Works Trading Up 0.8 %

Shares of NYSE:ITW traded up $1.95 during trading on Tuesday, hitting $247.14. 706,974 shares of the company’s stock were exchanged, compared to its average volume of 1,246,367. The firm has a market cap of $73.75 billion, a P/E ratio of 24.37, a PEG ratio of 3.59 and a beta of 1.14. The firm has a 50-day moving average price of $258.17 and a two-hundred day moving average price of $252.34. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15.

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

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is presently 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at $2,273,292.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 45,676 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.12, for a total value of $11,698,537.12. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,606,361.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on 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 sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,471 shares of company stock valued at $23,248,816. Corporate insiders own 1.26% of the company’s stock.

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.