Gould Asset Management LLC CA Acquires Shares of 796 Illinois Tool Works Inc. (NYSE:ITW)

Gould Asset Management LLC CA acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 796 shares of the industrial products company’s stock, valued at approximately $209,000.

Other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works in the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $26,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Bruce G. Allen Investments LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new position 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 and hedge funds.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.07 during trading hours on Friday, hitting $248.23. The company’s stock had a trading volume of 947,179 shares, compared to its average volume of 1,241,645. The business has a fifty day moving average of $260.16 and a 200-day moving average of $251.28. The stock has a market cap of $74.16 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 3.70 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. 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 (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 earnings per share. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITW shares. Barclays boosted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Citigroup upped their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $257.00.

Insider Activity at Illinois Tool Works

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,471 shares of company stock valued at $48,712,316. 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.