RB Capital Management LLC Purchases New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

RB Capital Management LLC purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 791 shares of the industrial products company’s stock, valued at approximately $207,000.

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

Illinois Tool Works Stock Down 0.8 %

NYSE:ITW opened at $242.27 on Thursday. The stock’s fifty day moving average price is $259.40 and its two-hundred day moving average price is $251.72. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.97 and a current ratio of 1.32. The company has a market cap of $72.38 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 3.46 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business earned $2.33 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.5 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were 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 of the company’s stock, valued at approximately $56,235,056.60. 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 in the last 90 days. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays boosted their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Truist Financial boosted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $257.89.

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.