Sivia Capital Partners LLC Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Sivia Capital Partners LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 778 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Turtle Creek Wealth Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $28,000. Security National Bank purchased a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $29,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $238.95 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $71.30 billion, a P/E ratio of 23.57, a P/E/G ratio of 3.49 and a beta of 1.11. The firm’s fifty day moving average is $246.08 and its 200 day moving average is $254.39. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company earned $2.33 EPS. Illinois Tool Works’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 10.22 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, July 11th. Investors of record on Friday, June 28th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s payout ratio is presently 55.23%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ITW. Truist Financial lifted their price target on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Barclays cut their price target on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $256.44.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 775 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the acquisition, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

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.