Stephens Inc. AR Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Stephens Inc. AR grew its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,091 shares of the industrial products company’s stock after acquiring an additional 323 shares during the quarter. Stephens Inc. AR’s holdings in Illinois Tool Works were worth $4,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Pinnacle West Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 5.2% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 2,845 shares of the industrial products company’s stock worth $745,000 after buying an additional 140 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Illinois Tool Works by 380.7% in the 4th quarter. Pinebridge Investments L.P. now owns 261,590 shares of the industrial products company’s stock worth $68,521,000 after buying an additional 207,167 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of Illinois Tool Works by 137.3% in the 4th quarter. Cibc World Markets Corp now owns 36,034 shares of the industrial products company’s stock worth $9,439,000 after buying an additional 20,846 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Illinois Tool Works by 256.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,734 shares of the industrial products company’s stock worth $11,718,000 after buying an additional 32,169 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its holdings in shares of Illinois Tool Works by 0.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 41,471 shares of the industrial products company’s stock worth $10,863,000 after buying an additional 259 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial boosted their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays lowered their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup boosted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $256.44.

View Our Latest Research Report on ITW

Illinois Tool Works Trading Down 0.2 %

Shares of ITW opened at $240.42 on Friday. The business’s 50-day moving average price is $249.04 and its 200-day moving average price is $254.32. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The stock has a market cap of $71.74 billion, a PE ratio of 23.71, a P/E/G ratio of 3.57 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share 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 analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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