Freestone Capital Holdings LLC Invests $243,000 in Illinois Tool Works Inc. (NYSE:ITW)

Freestone Capital Holdings LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 960 shares of the industrial products company’s stock, valued at approximately $243,000.

Several other large investors have also added to or reduced their stakes in ITW. Robeco Institutional Asset Management B.V. increased its stake in shares of Illinois Tool Works by 16.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,993 shares of the industrial products company’s stock valued at $6,026,000 after acquiring an additional 3,204 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter worth $32,000. Moloney Securities Asset Management LLC bought a new stake in Illinois Tool Works in the third quarter valued at $205,000. Graypoint LLC boosted its position in shares of Illinois Tool Works by 7.7% during the 3rd quarter. Graypoint LLC now owns 3,248 shares of the industrial products company’s stock worth $851,000 after purchasing an additional 231 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Illinois Tool Works by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 340,027 shares of the industrial products company’s stock valued at $89,111,000 after buying an additional 16,846 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Evercore ISI reduced their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Stock Up 3.7 %

Illinois Tool Works stock opened at $274.89 on Friday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm’s 50-day simple moving average is $257.54 and its 200 day simple moving average is $259.94. The stock has a market cap of $80.68 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts predict that Illinois Tool Works Inc. will post 10.39 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, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

About Illinois Tool Works

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.