Parisi Gray Wealth Management Has $1.16 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Parisi Gray Wealth Management grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,701 shares of the industrial products company’s stock after acquiring an additional 179 shares during the period. Parisi Gray Wealth Management’s holdings in Illinois Tool Works were worth $1,162,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Exeter Financial LLC boosted its position in shares of Illinois Tool Works by 6.8% during the 4th quarter. Exeter Financial LLC now owns 8,164 shares of the industrial products company’s stock worth $1,664,000 after purchasing an additional 522 shares in the last quarter. AlphaStar Capital Management LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $705,000. Cubist Systematic Strategies LLC boosted its position in shares of Illinois Tool Works by 44.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 31,385 shares of the industrial products company’s stock worth $6,064,000 after purchasing an additional 9,604 shares in the last quarter. Sound Financial Strategies Group LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $1,217,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $2,020,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Illinois Tool Works stock traded up $0.79 during mid-day trading on Tuesday, reaching $201.81. The company’s stock had a trading volume of 2,272 shares, compared to its average volume of 1,041,380. Illinois Tool Works Inc. has a 12-month low of $115.94 and a 12-month high of $224.69. The company has a market capitalization of $63.91 billion, a P/E ratio of 30.46, a PEG ratio of 3.88 and a beta of 1.07. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.92 and a current ratio of 2.37. The firm’s fifty day moving average price is $202.33 and its two-hundred day moving average price is $201.52.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 4th. The industrial products company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.23. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the business earned $1.87 EPS. Illinois Tool Works’s revenue was up .2% compared to the same quarter last year. On average, research analysts predict that Illinois Tool Works Inc. will post 6.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s payout ratio is 58.84%.

In other Illinois Tool Works news, VP Norman D. Jr. Finch sold 7,232 shares of the firm’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $203.00, for a total value of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the firm’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the completion of the transaction, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at $60,619,473.64. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on the stock. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $175.00 to $212.00 in a research report on Thursday, October 29th. Smith Barney Citigroup raised their price target on shares of Illinois Tool Works from $203.00 to $211.00 in a research report on Monday, October 26th. Morgan Stanley raised their price target on shares of Illinois Tool Works from $176.00 to $180.00 and gave the company an “underweight” rating in a research report on Monday, February 8th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Finally, UBS Group raised shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and raised their price target for the company from $211.00 to $232.00 in a research report on Monday, January 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $203.65.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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