Nicolet Bankshares Inc. Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Nicolet Bankshares Inc. lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,017 shares of the industrial products company’s stock after buying an additional 58 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Illinois Tool Works were worth $511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Qtron Investments LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $643,000. Glass Jacobson Investment Advisors llc lifted its stake in Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after buying an additional 84 shares in the last quarter. Heritage Trust Co purchased a new position in Illinois Tool Works during the fourth quarter worth $5,460,000. Argent Trust Co raised its holdings in shares of Illinois Tool Works by 0.5% in the fourth quarter. Argent Trust Co now owns 24,792 shares of the industrial products company’s stock worth $6,286,000 after acquiring an additional 122 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of Illinois Tool Works by 14.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 882 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 108 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Citigroup decreased their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Barclays decreased their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $264.09.

Insiders Place Their Bets

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the company’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 in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 in the last three months. 0.88% of the stock is owned by insiders.

Illinois Tool Works Price Performance

ITW stock opened at $232.40 on Friday. The stock has a 50-day simple moving average of $252.30 and a 200-day simple moving average of $258.95. The firm has a market cap of $68.18 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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, equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Illinois Tool Works 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.