Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Lifted by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,293 shares of the industrial products company’s stock after buying an additional 303 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Illinois Tool Works were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Mackenzie Financial Corp now owns 28,441 shares of the industrial products company’s stock valued at $6,553,000 after acquiring an additional 987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Illinois Tool Works by 6.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,941 shares of the industrial products company’s stock valued at $25,090,000 after buying an additional 6,308 shares in the last quarter. NBT Bank N A NY increased its holdings in Illinois Tool Works by 31.4% in the third quarter. NBT Bank N A NY now owns 3,963 shares of the industrial products company’s stock worth $913,000 after buying an additional 947 shares during the last quarter. Park Avenue Securities LLC raised its position in Illinois Tool Works by 5.0% during the third quarter. Park Avenue Securities LLC now owns 12,474 shares of the industrial products company’s stock valued at $2,873,000 after acquiring an additional 591 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its stake in Illinois Tool Works by 7.1% in the third quarter. Catalyst Financial Partners LLC now owns 1,724 shares of the industrial products company’s stock valued at $397,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In related news, Chairman Ernest Scott Santi sold 45,676 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.12, for a total value of $11,698,537.12. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,606,361.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Ernest Scott Santi sold 45,676 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,606,361.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works 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 owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,471 shares of company stock worth $23,248,816. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Down 0.0 %

ITW stock traded down $0.01 during trading hours on Wednesday, reaching $247.13. 118,519 shares of the stock were exchanged, compared to its average volume of 1,233,486. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market cap of $73.74 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 3.59 and a beta of 1.14. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The firm’s 50-day moving average is $258.17 and its 200-day moving average is $252.34.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ITW shares. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Citigroup increased their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial upped their price target on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays reduced 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 report on Thursday, May 2nd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $257.78.

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.