Harbour Investments Inc. Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Harbour Investments Inc. raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,696 shares of the industrial products company’s stock after purchasing an additional 44 shares during the period. Harbour Investments Inc.’s holdings in Illinois Tool Works were worth $937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC boosted its stake in Illinois Tool Works by 2.0% during the third quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock worth $13,590,000 after buying an additional 994 shares during the period. Caprock Group LLC lifted its holdings in shares of Illinois Tool Works by 4.8% in the 3rd quarter. Caprock Group LLC now owns 8,650 shares of the industrial products company’s stock worth $2,280,000 after acquiring an additional 399 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Illinois Tool Works by 0.5% during the 3rd quarter. Prospera Financial Services Inc now owns 24,783 shares of the industrial products company’s stock worth $6,498,000 after purchasing an additional 120 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Illinois Tool Works during the 3rd quarter valued at about $5,665,000. Finally, Prospera Private Wealth LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth about $4,731,000. 79.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 0.7 %

NYSE:ITW opened at $256.46 on Thursday. The firm has a 50-day simple moving average of $258.24 and a 200-day simple moving average of $260.45. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market cap of $75.27 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Evercore ISI reduced their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $269.10.

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.