Good Life Advisors LLC Buys 211 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Good Life Advisors LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,370 shares of the industrial products company’s stock after acquiring an additional 211 shares during the quarter. Good Life Advisors LLC’s holdings in Illinois Tool Works were worth $621,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. increased its position in Illinois Tool Works by 3.7% in the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock valued at $2,024,000 after acquiring an additional 348 shares in the last quarter. Cetera Investment Advisers grew its holdings in Illinois Tool Works by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock worth $1,899,000 after acquiring an additional 368 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Illinois Tool Works by 54.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in Illinois Tool Works by 9.9% in the first quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 217 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Illinois Tool Works by 70.7% during the first quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock worth $156,000 after buying an additional 309 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial initiated coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Barclays lifted their price target on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Monday, February 5th. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Finally, Citigroup lifted their target price on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Five 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 stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $245.50.

Insider Activity at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the business’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 completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock traded up $0.12 during mid-day trading on Thursday, hitting $268.33. 1,132,512 shares of the stock were exchanged, compared to its average volume of 1,297,430. The stock has a market capitalization of $80.16 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The business has a fifty day moving average price of $260.19 and a 200 day moving average price of $248.03.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

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.