9,475 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Sciencast Management LP

Sciencast Management LP acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,475 shares of the industrial products company’s stock, valued at approximately $2,402,000.

Several other hedge funds have also recently bought and sold shares of the business. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $31,000. Atlantic Private Wealth LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $33,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works 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 completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly 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. In the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $251.05 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market capitalization of $73.68 billion, a PE ratio of 21.42, a PEG ratio of 4.56 and a beta of 1.13. The business’s 50 day moving average is $258.48 and its 200-day moving average is $260.38. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.39%. Illinois Tool Works’s payout ratio is 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.