Skopos Labs Inc. Invests $471,000 in Illinois Tool Works Inc. (NYSE:ITW)

Skopos Labs Inc. purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,798 shares of the industrial products company’s stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new position in Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.6 %

Shares of ITW traded down $1.38 on Friday, hitting $240.07. 997,894 shares of the stock traded hands, compared to its average volume of 1,028,236. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $71.64 billion, a P/E ratio of 23.68, a P/E/G ratio of 3.58 and a beta of 1.14. The stock’s 50 day moving average is $254.61 and its two-hundred day moving average is $253.96. 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 quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.33 earnings per share. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.24 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Analyst Ratings Changes

Several research analysts have weighed in on ITW shares. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Citigroup upped their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial increased their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $257.78.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is currently owned by insiders.

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.