9,202 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by Allstate Corp

Allstate Corp bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, Holdings Channel.com reports. The firm bought 9,202 shares of the industrial products company’s stock, valued at approximately $2,333,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Illinois Tool Works by 4.1% during the third quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock worth $261,666,000 after purchasing an additional 39,445 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Illinois Tool Works by 12.2% during the 3rd quarter. Townsquare Capital LLC now owns 8,946 shares of the industrial products company’s stock worth $2,344,000 after buying an additional 970 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Illinois Tool Works by 17.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock valued at $2,108,000 after acquiring an additional 1,200 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Illinois Tool Works by 9.9% in the third quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock valued at $10,405,000 after acquiring an additional 3,581 shares during the last quarter. Finally, Kolinsky Wealth Management LLC bought a new stake in Illinois Tool Works during the third quarter worth about $207,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $246.34 on Friday. The firm has a market cap of $72.30 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business’s 50 day moving average is $258.40 and its 200-day moving average is $260.73. 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 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted 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%. Equities research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. Illinois Tool Works’s payout ratio is presently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’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 completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on ITW. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Barclays dropped their target price on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus reduced 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $268.30.

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.