Modera Wealth Management LLC Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Modera Wealth Management LLC lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,643 shares of the industrial products company’s stock after buying an additional 271 shares during the quarter. Modera Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,431,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ITW. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE ITW opened at $261.96 on Tuesday. The stock has a fifty day moving average price of $257.09 and a 200 day moving average price of $259.57. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a market cap of $76.89 billion, a P/E ratio of 22.35, a P/E/G ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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 anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

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.