RFG Advisory LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

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RFG Advisory LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,586 shares of the industrial products company’s stock after buying an additional 332 shares during the period. RFG Advisory LLC’s holdings in Illinois Tool Works were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. D Orazio & Associates Inc. acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $28,000. Strategic Blueprint LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $31,000. Garrett Wealth Advisory Group LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $33,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $34,000. Finally, Usca Ria LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth approximately $34,000. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ITW opened at $179.60 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 2.57. Illinois Tool Works Inc. has a 12 month low of $129.72 and a 12 month high of $182.34. The company has a 50 day simple moving average of $178.65 and a two-hundred day simple moving average of $163.24. The stock has a market cap of $57.05 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.94 and a beta of 1.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 25th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.94 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the business posted $1.76 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post 7.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, December 30th. Illinois Tool Works’s payout ratio is 56.32%.

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 11,977 shares of Illinois Tool Works stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the completion of the sale, the chief accounting officer now directly owns 18,649 shares in the company, valued at approximately $3,200,727.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John R. Hartnett sold 24,202 shares of Illinois Tool Works stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $167.40, for a total transaction of $4,051,414.80. Following the sale, the executive vice president now owns 41,374 shares of the company’s stock, valued at $6,926,007.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 239,069 shares of company stock valued at $40,486,643. Company insiders own 0.87% of the company’s stock.

A number of research firms recently commented on ITW. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 target price for the company. in a research note on Monday, October 28th. Credit Suisse Group lifted their target price on shares of Illinois Tool Works from $144.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Wells Fargo & Co lifted their target price on shares of Illinois Tool Works from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Morgan Stanley lowered their target price on shares of Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating for the company in a research note on Wednesday, October 16th. Finally, Deutsche Bank lifted their target price on shares of Illinois Tool Works from $142.00 to $164.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $154.21.

About Illinois Tool Works

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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