Proficio Capital Partners LLC Has $439,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Proficio Capital Partners LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 44.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,730 shares of the industrial products company’s stock after buying an additional 536 shares during the period. Proficio Capital Partners LLC’s holdings in Illinois Tool Works were worth $439,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ITW. State Street Corp increased its holdings in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 2.7% in the 3rd 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 increased its stake in Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after purchasing an additional 95,925 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Illinois Tool Works by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after buying an additional 32,607 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in 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 valued at $634,797,000 after buying an additional 46,287 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $255.86 on Tuesday. The stock has a market capitalization of $75.09 billion, a PE ratio of 21.83, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a fifty day simple moving average of $258.60 and a 200 day simple moving average of $260.66. 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 (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio is 51.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITW shares. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus dropped their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. 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 research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target of $269.10.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. Insiders own 0.88% of the company’s stock.

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.