Lee Danner & Bass Inc. Invests $95,000 in Illinois Tool Works Inc. (NYSE:ITW)

Lee Danner & Bass Inc. purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 374 shares of the industrial products company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baron Wealth Management LLC grew its position in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 39 shares during the period. Harbour Investments Inc. grew its position in shares of Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after acquiring an additional 44 shares during the period. Capital Advisors Ltd. LLC grew its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after acquiring an additional 46 shares during the period. Valmark Advisers Inc. grew its position in shares of Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after acquiring an additional 47 shares during the period. Finally, Lyell Wealth Management LP grew its position in shares of Illinois Tool Works by 4.9% during the 4th quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 47 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Down 0.9 %

ITW opened at $251.05 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company’s 50 day simple moving average is $258.48 and its two-hundred day simple moving average is $260.46. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market capitalization of $73.68 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The company also recently declared 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 2.39%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Evercore ISI dropped their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays set a $260.00 target price on Illinois Tool Works and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given 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, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $269.10.

Illinois Tool Works Company 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.