Oppenheimer & Co. Inc. Purchases 563 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Oppenheimer & Co. Inc. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,884 shares of the industrial products company’s stock after acquiring an additional 563 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Illinois Tool Works were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC grew its holdings in Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Illinois Tool Works by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock worth $634,797,000 after acquiring an additional 46,287 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after acquiring an additional 32,656 shares during the period. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ITW shares. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Citigroup cut 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. Finally, Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Trading Up 1.1 %

NYSE ITW opened at $263.99 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average of $257.00 and a 200-day moving average of $259.13. The firm has a market cap of $77.48 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 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.