3,954 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Hopwood Financial Services Inc.

Hopwood Financial Services Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, Holdings Channel reports. The fund bought 3,954 shares of the industrial products company’s stock, valued at approximately $1,003,000. Illinois Tool Works comprises 0.8% of Hopwood Financial Services Inc.’s holdings, making the stock its 26th largest position.

A number of other hedge funds also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $37,000. Finally, Asset Planning Inc bought a new position in Illinois Tool Works during the fourth quarter worth $40,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $255.05 on Wednesday. The business’s fifty day moving average is $257.83 and its two-hundred day moving average is $260.36. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market cap of $74.86 billion, a P/E ratio of 21.76, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Barclays set a $260.00 price objective on Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $269.10.

Insider Buying and Selling

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 in the last quarter. Insiders own 0.88% of the company’s stock.

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.