Petix & Botte Co Makes New $204,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Petix & Botte Co acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 780 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other large investors have also modified their holdings of ITW. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays dropped their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $257.78.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,471 shares of company stock valued at $35,970,816. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 0.5 %

Shares of Illinois Tool Works stock traded up $1.23 during mid-day trading on Monday, hitting $245.15. The stock had a trading volume of 758,667 shares, compared to its average volume of 1,252,317. The firm has a 50-day moving average of $258.45 and a two-hundred day moving average of $252.17. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The firm has a market cap of $73.24 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. Illinois Tool Works’s payout ratio is currently 55.23%.

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.