795 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Kerntke Otto McGlone Wealth Management Group

Kerntke Otto McGlone Wealth Management Group purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 795 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other large investors have also recently modified their holdings of the business. Cornerstone Wealth Management LLC grew its stake in shares of Illinois Tool Works by 2.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after buying an additional 41 shares during the period. Summit Financial LLC boosted its holdings in Illinois Tool Works by 1.6% in the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 41 shares during the period. Nicolet Advisory Services LLC boosted its stake in Illinois Tool Works by 4.5% during the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after buying an additional 46 shares during the period. PFG Advisors lifted its position in Illinois Tool Works by 0.7% during the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 46 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $1.88 during mid-day trading on Friday, hitting $243.92. The company had a trading volume of 929,954 shares, compared to its average volume of 1,218,462. The company’s fifty day moving average is $258.75 and its 200-day moving average is $251.73. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a market capitalization of $72.87 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 3.55 and a beta of 1.14. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 earnings per share. Equities research analysts predict that Illinois Tool Works Inc. will post 10.35 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were 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 directly owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on 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 directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders sold 139,471 shares of company stock valued at $35,970,816 in the last three months. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial upped their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company dropped their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday. Barclays dropped their price objective on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research report on Thursday. 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 research note on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $257.78.

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.