Regent Peak Wealth Advisors LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,477 shares of the industrial products company’s stock after buying an additional 229 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITW. Norges Bank bought a new position in shares of Illinois Tool Works in the fourth quarter valued at about $711,314,000. Renaissance Technologies LLC raised its holdings in Illinois Tool Works by 464.1% during the 4th quarter. Renaissance Technologies LLC now owns 271,900 shares of the industrial products company’s stock worth $55,435,000 after purchasing an additional 223,700 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Illinois Tool Works by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,578,570 shares of the industrial products company’s stock worth $1,545,120,000 after purchasing an additional 214,462 shares during the last quarter. Mechanics Bank Trust Department raised its holdings in Illinois Tool Works by 5,877.0% during the 4th quarter. Mechanics Bank Trust Department now owns 217,322 shares of the industrial products company’s stock worth $777,000 after purchasing an additional 213,686 shares during the last quarter. Finally, Flossbach Von Storch AG raised its holdings in Illinois Tool Works by 10.3% during the 4th quarter. Flossbach Von Storch AG now owns 2,192,565 shares of the industrial products company’s stock worth $447,020,000 after purchasing an additional 204,018 shares during the last quarter. 77.44% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Ernest Scott Santi sold 1,231 shares of the stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total value of $252,810.47. Following the completion of the sale, the chief executive officer now owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $203.00, for a total value of $1,468,096.00. Corporate insiders own 0.79% of the company’s stock.

NYSE:ITW traded up $2.52 during trading hours on Tuesday, reaching $236.08. 8,217 shares of the stock were exchanged, compared to its average volume of 1,112,929. Illinois Tool Works Inc. has a twelve month low of $148.66 and a twelve month high of $235.00. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92. The firm has a 50 day moving average of $223.56 and a 200 day moving average of $209.38. The stock has a market cap of $74.71 billion, a PE ratio of 35.39, a PEG ratio of 3.88 and a beta of 1.07.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, April 30th. The industrial products company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.21. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 6.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, March 30th. Illinois Tool Works’s payout ratio is presently 58.84%.

ITW has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on Illinois Tool Works from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 15th. JPMorgan Chase & Co. upped their price target on Illinois Tool Works from $203.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, April 14th. They noted that the move was a valuation call. Morgan Stanley upped their price target on Illinois Tool Works from $189.00 to $207.00 and gave the company an “underweight” rating in a research note on Monday. BMO Capital Markets upped their price target on Illinois Tool Works from $225.00 to $235.00 and gave the company a “market perform” rating in a research note on Monday. Finally, UBS Group raised Illinois Tool Works from a “neutral” rating to a “buy” rating and upped their price target for the company from $211.00 to $232.00 in a research note on Monday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $214.59.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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