Ethos Financial Group LLC Has $431,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Ethos Financial Group LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,635 shares of the industrial products company’s stock after acquiring an additional 53 shares during the quarter. Ethos Financial Group LLC’s holdings in Illinois Tool Works were worth $431,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Illinois Tool Works by 1.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the period. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $4,180,000. Wesbanco Bank Inc. raised its position in shares of Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 1,152 shares during the period. Ziegler Capital Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $224,000. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $2,972,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $2.33 during mid-day trading on Thursday, hitting $249.73. 563,930 shares of the stock were exchanged, compared to its average volume of 1,231,959. The stock has a market capitalization of $74.52 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. The firm’s 50-day simple moving average is $257.86 and its 200 day simple moving average is $252.30. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $2.33 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.29 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 55.23%.

Insider Activity

In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, 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 this hyperlink. In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Ernest Scott Santi sold 45,676 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.12, for a total value of $11,698,537.12. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,606,361.80. The disclosure for this sale can be found here. In the last three months, insiders sold 89,471 shares of company stock worth $23,248,816. 1.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Citigroup increased 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. Barclays decreased their price objective on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus increased 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. Truist Financial increased 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. Finally, Wells Fargo & Company decreased their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $257.78.

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.