Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 90.8% in the 4th quarter, Holdings Channel reports. The fund owned 599 shares of the industrial products company’s stock after acquiring an additional 285 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Illinois Tool Works were worth $158,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ITW. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $248.83 on Friday. The business’s 50 day moving average is $260.64 and its 200-day moving average is $250.65. The stock has a market cap of $74.34 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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 analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.25%. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays lifted their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Citigroup lifted their target price 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. Finally, Truist Financial initiated coverage on 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. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $257.00.

Illinois Tool Works Company 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.