Rafferty Asset Management LLC Purchases 1,089 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Rafferty Asset Management LLC raised its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,970 shares of the industrial products company’s stock after acquiring an additional 1,089 shares during the quarter. Rafferty Asset Management LLC’s holdings in Illinois Tool Works were worth $6,017,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in Illinois Tool Works by 2.5% in the third quarter. Spire Wealth Management now owns 2,960 shares of the industrial products company’s stock worth $682,000 after purchasing an additional 72 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Illinois Tool Works by 6.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 13,054 shares of the industrial products company’s stock valued at $3,012,000 after acquiring an additional 788 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Illinois Tool Works by 3.9% during the 3rd quarter. D.A. Davidson & CO. now owns 15,206 shares of the industrial products company’s stock valued at $3,502,000 after acquiring an additional 565 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Illinois Tool Works by 13.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,723 shares of the industrial products company’s stock worth $1,088,000 after acquiring an additional 562 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Illinois Tool Works by 3.4% in the third quarter. Van ECK Associates Corp now owns 43,688 shares of the industrial products company’s stock worth $10,062,000 after purchasing an additional 1,456 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 0.2 %

Illinois Tool Works stock opened at $240.97 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The firm’s 50-day simple moving average is $249.60 and its 200 day simple moving average is $254.32. The stock has a market cap of $71.91 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11.

Illinois Tool Works (NYSE:ITWGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. Research analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ITW shares. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus increased their price target 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 boosted their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays cut their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $256.44.

Get Our Latest Research Report on Illinois Tool Works

Illinois Tool Works Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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