Clarus Wealth Advisors Acquires New Stake in Illinois Tool Works Inc. (NYSE:ITW)

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Clarus Wealth Advisors acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,846 shares of the industrial products company’s stock, valued at approximately $289,000.

Other institutional investors have also recently bought and sold shares of the company. Hexavest Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth $26,000. Asset Dedication LLC lifted its position in shares of Illinois Tool Works by 105.3% during the second quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Illinois Tool Works during the first quarter worth $32,000. Golden State Wealth Management LLC lifted its position in shares of Illinois Tool Works by 75.4% during the second quarter. Golden State Wealth Management LLC now owns 307 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 132 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Illinois Tool Works by 25.1% during the third quarter. Allworth Financial LP now owns 349 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Several research firms have issued reports on ITW. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a research report on Tuesday, July 9th. Credit Suisse Group increased their target price on Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. UBS Group increased their target price on Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Northcoast Research downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price on the stock. in a research report on Wednesday, June 26th. Finally, Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price on the stock. in a research report on Monday, September 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $141.75.

Illinois Tool Works stock opened at $154.53 on Friday. The stock has a market cap of $47.36 billion, a P/E ratio of 20.33, a PEG ratio of 2.60 and a beta of 1.22. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $161.71. The firm’s fifty day moving average price is $152.22 and its 200-day moving average price is $151.04. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.97 earnings per share. Sell-side analysts predict that Illinois Tool Works Inc. will post 7.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th were issued a $1.07 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.77%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. Illinois Tool Works’s dividend payout ratio is presently 56.32%.

In related news, CFO Michael M. Larsen sold 35,617 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $159.61, for a total value of $5,684,829.37. Following the transaction, the chief financial officer now owns 38,726 shares of the company’s stock, valued at $6,181,056.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael R. Zimmerman sold 9,325 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the completion of the transaction, the insider now directly owns 16,315 shares in the company, valued at approximately $2,610,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,458 shares of company stock worth $25,172,163. Insiders own 0.87% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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