Semanteon Capital Management LP Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Semanteon Capital Management LP purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,165 shares of the industrial products company’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ITW. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at approximately $26,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’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 completion of the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated 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 completion of the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $248.23 on Friday. The stock has a market cap of $74.16 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. The company has a fifty day simple moving average of $260.04 and a 200-day simple moving average of $251.37. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 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.