Semanteon Capital Management LP Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Semanteon Capital Management LP acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,165 shares of the industrial products company’s stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its holdings in Illinois Tool Works by 14.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,101 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 141 shares during the last quarter. Handelsbanken Fonder AB raised its position in Illinois Tool Works by 0.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 108,628 shares of the industrial products company’s stock worth $25,018,000 after purchasing an additional 650 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Illinois Tool Works by 2.8% during the 3rd quarter. Ballentine Partners LLC now owns 8,265 shares of the industrial products company’s stock worth $1,904,000 after buying an additional 226 shares during the period. TFG Advisers LLC grew its position in shares of Illinois Tool Works by 0.9% in the 3rd quarter. TFG Advisers LLC now owns 9,122 shares of the industrial products company’s stock valued at $2,101,000 after buying an additional 79 shares during the last quarter. Finally, Slow Capital Inc. increased its position in Illinois Tool Works by 6.0% during the 3rd quarter. Slow Capital Inc. now owns 11,675 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 660 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction dated Thursday, March 14th. The stock was 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 owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $248.23 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The firm’s 50-day simple moving average is $260.04 and its 200 day simple moving average is $251.37. The stock has a market cap of $74.16 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. 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 posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.34 EPS. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s payout ratio is currently 57.49%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Truist Financial began coverage on Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.