Advisory Services Network LLC Has $4.46 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Advisory Services Network LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,579 shares of the industrial products company’s stock after buying an additional 93 shares during the quarter. Advisory Services Network LLC’s holdings in Illinois Tool Works were worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Prudent Man Investment Management Inc. bought a new position in Illinois Tool Works in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $28,000. Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $31,000. Atlantic Private Wealth LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $33,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $235.16 on Thursday. The firm has a market capitalization of $68.99 billion, a P/E ratio of 20.06, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The business has a fifty day moving average price of $253.32 and a 200-day moving average price of $259.35. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.55%. Illinois Tool Works’s payout ratio is 51.19%.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ITW shares. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, Barclays cut their price objective on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $265.18.

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.