Xponance Inc. Purchases 1,749 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Xponance Inc. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,836 shares of the industrial products company’s stock after buying an additional 1,749 shares during the quarter. Xponance Inc.’s holdings in Illinois Tool Works were worth $12,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Baron Wealth Management LLC increased its stake in shares of 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 last quarter. Cypress Capital Group grew its stake in Illinois Tool Works by 1.2% in the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company’s stock valued at $962,000 after buying an additional 43 shares during the last quarter. Harbour Investments Inc. grew its stake in Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after buying an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after buying an additional 46 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 47 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $269.10.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $254.58 on Wednesday. The company has a 50 day moving average of $258.07 and a 200-day moving average of $260.48. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market cap of $74.72 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly 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%. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share 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 issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. Company insiders own 0.88% of the company’s stock.

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.