Hyman Charles D Acquires 962 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Hyman Charles D grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,280 shares of the industrial products company’s stock after buying an additional 962 shares during the quarter. Hyman Charles D’s holdings in Illinois Tool Works were worth $4,264,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ITW. Vanguard Group Inc. grew its stake in 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 valued at $6,035,292,000 after purchasing an additional 1,238,239 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Illinois Tool Works by 1.9% in the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after purchasing an additional 244,145 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Illinois Tool Works by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after purchasing an additional 97,568 shares during the last quarter. Fisher Asset Management LLC increased its position in Illinois Tool Works by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after buying an additional 122,840 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after acquiring an additional 22,238 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ITW shares. Stifel Nicolaus raised their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial raised their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $257.78.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $1.95 during trading on Tuesday, reaching $247.14. 706,974 shares of the company traded hands, compared to its average volume of 1,246,367. The firm has a market capitalization of $73.75 billion, a PE ratio of 24.37, a PEG ratio of 3.59 and a beta of 1.14. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The company’s 50 day moving average is $258.17 and its two-hundred day moving average is $252.34.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data 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 net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. Illinois Tool Works’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction dated 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 owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the business’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 sale, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,471 shares of company stock valued at $23,248,816. Corporate insiders own 1.26% of the company’s stock.

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.