Illinois Tool Works Inc. (NYSE:ITW) Holdings Increased by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,736 shares of the industrial products company’s stock after buying an additional 127 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Illinois Tool Works were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $28,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at $33,000. Hager Investment Management Services LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $37,000. Finally, Asset Planning Inc bought a new stake in Illinois Tool Works in the 4th quarter valued at $40,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price 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. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $274.89 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock’s fifty day simple moving average is $257.54 and its two-hundred day simple moving average is $260.05. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $80.68 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) 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, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Illinois Tool Works 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.