Valley Brook Capital Group Inc. Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

Valley Brook Capital Group Inc. grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,880 shares of the industrial products company’s stock after buying an additional 65 shares during the period. Illinois Tool Works accounts for approximately 1.3% of Valley Brook Capital Group Inc.’s portfolio, making the stock its 21st largest position. Valley Brook Capital Group Inc.’s holdings in Illinois Tool Works were worth $1,540,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $28,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders have sold a total of 139,471 shares of company stock worth $35,970,816 in the last three months. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Trading Up 0.8 %

NYSE:ITW traded up $1.88 during mid-day trading on Friday, reaching $243.92. The company’s stock had a trading volume of 929,954 shares, compared to its average volume of 1,218,462. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.97. The stock has a market cap of $72.87 billion, a P/E ratio of 24.06, a P/E/G ratio of 3.57 and a beta of 1.14. The company’s fifty day simple moving average is $258.75 and its two-hundred day simple moving average is $252.03. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. Illinois Tool Works’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on ITW shares. Stifel Nicolaus boosted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial increased their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday. Barclays dropped their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, StockNews.com raised 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 assigned a buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has a consensus 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.