Drive Wealth Management LLC Buys 57 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Drive Wealth Management LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,485 shares of the industrial products company’s stock after purchasing an additional 57 shares during the quarter. Drive Wealth Management LLC’s holdings in Illinois Tool Works were worth $391,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at $29,000. Quarry LP lifted its position in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 49 shares during the period. Arlington Trust Co LLC acquired a new position in Illinois Tool Works in the third quarter worth about $38,000. Finally, Union Savings Bank bought a new position in Illinois Tool Works during the second quarter worth about $39,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related 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 value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $0.87 during trading hours on Tuesday, reaching $264.36. 364,647 shares of the company were exchanged, compared to its average volume of 1,276,440. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market cap of $78.97 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 4.61 and a beta of 1.13. The stock’s fifty day moving average is $260.91 and its two-hundred day moving average is $248.71. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company posted $2.34 EPS. The company’s revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ITW shares. Barclays upped their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Finally, Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $246.10.

Check Out Our Latest Analysis on ITW

Illinois Tool Works Company 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.

Featured Articles

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.