Chicago Capital LLC Has $4.70 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Chicago Capital LLC decreased its stake in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 9.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,943 shares of the industrial products company’s stock after selling 1,934 shares during the period. Chicago Capital LLC’s holdings in Illinois Tool Works were worth $4,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Miracle Mile Advisors LLC increased its stake in shares of Illinois Tool Works by 139.3% in the fourth quarter. Miracle Mile Advisors LLC now owns 5,453 shares of the industrial products company’s stock valued at $1,428,000 after buying an additional 3,174 shares during the period. BLB&B Advisors LLC boosted its position in shares of Illinois Tool Works by 7.5% during the 4th quarter. BLB&B Advisors LLC now owns 1,757 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 122 shares in the last quarter. PFG Advisors boosted its position in shares of Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 46 shares in the last quarter. Atlas Private Wealth Management boosted its position in shares of Illinois Tool Works by 1.9% during the 4th quarter. Atlas Private Wealth Management now owns 3,116 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 57 shares in the last quarter. Finally, Woodmont Investment Counsel LLC boosted its position in shares of Illinois Tool Works by 5.7% during the 4th quarter. Woodmont Investment Counsel LLC now owns 2,525 shares of the industrial products company’s stock valued at $661,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 1.2 %

ITW stock opened at $265.23 on Tuesday. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The stock’s 50 day moving average is $260.76 and its 200-day moving average is $248.53. The firm has a market capitalization of $79.23 billion, a PE ratio of 27.23, a P/E/G ratio of 4.61 and a beta of 1.13.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $2.34 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Insider Activity

In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. 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 90 days. 1.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Truist Financial initiated coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Citigroup upped their target price on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Barclays increased their price target on Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a report on Monday, February 5th. Finally, Stifel Nicolaus increased their price target on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $245.50.

Get Our Latest Analysis on ITW

Illinois Tool Works Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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