Nadler Financial Group Inc. Acquires Shares of 865 Illinois Tool Works Inc. (NYSE:ITW)

Nadler Financial Group Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, HoldingsChannel.com reports. The fund bought 865 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Global Investments lifted its position in Illinois Tool Works by 13.8% during the third quarter. Summit Global Investments now owns 1,115 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 135 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in Illinois Tool Works by 5.5% in the third quarter. Flagship Harbor Advisors LLC now owns 1,666 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 87 shares during the period. DAVENPORT & Co LLC boosted its position in Illinois Tool Works by 0.8% in the third quarter. DAVENPORT & Co LLC now owns 24,927 shares of the industrial products company’s stock worth $5,743,000 after purchasing an additional 197 shares during the last quarter. Park Place Capital Corp grew its stake in shares of Illinois Tool Works by 6.9% during the 3rd quarter. Park Place Capital Corp now owns 1,601 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Illinois Tool Works by 59.4% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 604 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 225 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITW. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Truist Financial started coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Barclays lifted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $257.00.

Insiders Place Their Bets

In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $0.72 during midday trading on Friday, reaching $248.88. 251,587 shares of the company were exchanged, compared to its average volume of 1,232,704. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a market cap of $74.35 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.70 and a beta of 1.13. The business’s fifty day moving average is $260.16 and its two-hundred day moving average is $251.28. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. As a group, analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

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.