Nadler Financial Group Inc. Takes $227,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Nadler Financial Group Inc. acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 865 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth $26,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth about $25,000. 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. bought a new position in Illinois Tool Works during the 4th quarter worth approximately $29,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.3 %

NYSE:ITW traded up $0.72 on Friday, hitting $248.88. 251,587 shares of the company’s stock were exchanged, compared to its average volume of 1,232,704. The firm has a 50-day moving average price of $260.16 and a 200-day moving average price of $251.28. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market cap of $74.35 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.70 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Insider Activity

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITW. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Truist Financial initiated coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Citigroup raised their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays increased their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $257.00.

Illinois Tool Works Company 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.