Catalyst Financial Partners LLC Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Catalyst Financial Partners LLC increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,767 shares of the industrial products company’s stock after buying an additional 43 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Illinois Tool Works were worth $463,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction dated 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 owns 8,870 shares in the company, valued at $2,273,292.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at $2,273,292.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 89,471 shares of company stock worth $23,248,816 over the last quarter. 1.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ITW. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Truist Financial lifted their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.78.

Illinois Tool Works Trading Up 0.1 %

Shares of NYSE:ITW traded up $0.26 during midday trading on Wednesday, reaching $247.40. The company’s stock had a trading volume of 617,090 shares, compared to its average volume of 1,239,335. The firm has a market cap of $73.82 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The business has a 50 day moving average price of $258.17 and a 200 day moving average price of $252.34.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. Research analysts forecast that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared 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. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

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.