Apollon Wealth Management LLC Has $3.40 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Apollon Wealth Management LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 31.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,980 shares of the industrial products company’s stock after buying an additional 3,112 shares during the quarter. Apollon Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ITW. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. Bruce G. Allen Investments LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. bought a new position in Illinois Tool Works in the 4th quarter worth approximately $29,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company dropped their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lifted their price target on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $257.78.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Ernest Scott Santi sold 45,676 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at approximately $56,606,361.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,471 shares of company stock worth $23,248,816. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW traded up $1.95 during trading hours on Tuesday, hitting $247.14. The stock had a trading volume of 706,974 shares, compared to its average volume of 1,246,367. The company’s fifty day moving average is $258.45 and its two-hundred day moving average is $252.17. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The stock has a market capitalization of $73.75 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 3.59 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. On average, analysts anticipate that Illinois Tool Works Inc. will post 10.29 EPS 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 given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s payout ratio is presently 55.23%.

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.