Legacy Financial Advisors Inc. Has $224,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Legacy Financial Advisors Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 882 shares of the industrial products company’s stock after acquiring an additional 108 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Illinois Tool Works were worth $224,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in Illinois Tool Works by 1.7% in the 3rd quarter. Barclays PLC now owns 776,966 shares of the industrial products company’s stock valued at $203,619,000 after buying an additional 12,988 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Illinois Tool Works by 5.2% in the third quarter. TD Private Client Wealth LLC now owns 5,695 shares of the industrial products company’s stock valued at $1,492,000 after acquiring an additional 280 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $759,000. Sanctuary Advisors LLC grew its holdings in Illinois Tool Works by 17.9% during the third quarter. Sanctuary Advisors LLC now owns 89,507 shares of the industrial products company’s stock worth $24,521,000 after purchasing an additional 13,567 shares during the period. Finally, World Investment Advisors LLC boosted its stake in shares of Illinois Tool Works by 6.7% during the 3rd quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company’s stock worth $4,186,000 after acquiring an additional 1,000 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Up 2.5 %

ITW stock opened at $232.40 on Friday. The firm has a 50-day moving average price of $252.30 and a 200-day moving average price of $258.95. The stock has a market capitalization of $68.18 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

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, beating the consensus estimate 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 anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued 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 dividend yield of 2.58%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on 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 directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 in the last three months. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ITW. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Evercore ISI cut their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $264.09.

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.