GKV Capital Management Co. Inc. Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

GKV Capital Management Co. Inc. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,000 shares of the industrial products company’s stock, valued at approximately $254,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter worth about $28,000. Glass Jacobson Investment Advisors llc grew its holdings in Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after buying an additional 84 shares during the period. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.6 %

Shares of NYSE:ITW opened at $230.11 on Thursday. The company’s fifty day moving average is $250.90 and its two-hundred day moving average is $258.34. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market capitalization of $67.51 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.61%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were 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 of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 over the last three months. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. UBS Group decreased their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Barclays decreased their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus dropped their price target on Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $260.09.

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.