Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Bailard Inc.

Bailard Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,492 shares of the industrial products company’s stock after purchasing an additional 731 shares during the quarter. Bailard Inc.’s holdings in Illinois Tool Works were worth $3,796,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $28,000. Bruce G. Allen Investments LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $29,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

NYSE:ITW traded down $3.10 during trading hours on Thursday, reaching $248.66. 688,185 shares of the company traded hands, compared to its average volume of 1,239,339. The firm’s 50-day moving average is $260.33 and its 200-day moving average is $251.30. The stock has a market cap of $74.28 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.68 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 1-year low of $217.06 and a 1-year 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, beating analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. Equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’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 sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last quarter. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Stifel Nicolaus increased their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Citigroup increased their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Truist Financial began coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.