Perbak Capital Partners LLP Buys Shares of 6,254 Illinois Tool Works Inc. (NYSE:ITW)

Perbak Capital Partners LLP acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,254 shares of the industrial products company’s stock, valued at approximately $1,586,000. Illinois Tool Works comprises about 0.8% of Perbak Capital Partners LLP’s portfolio, making the stock its 29th biggest position.

A number of other institutional investors have also made changes to their positions in ITW. Prudent Man Investment Management Inc. bought a new position in Illinois Tool Works during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc grew its stake in shares of Illinois Tool Works by 336.0% in the fourth 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. Finally, Millstone Evans Group LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $31,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction dated 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 owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock valued at $42,973,845. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ITW shares. Evercore ISI cut their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Citigroup reduced their price objective on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lowered their target price on 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. Finally, Barclays reduced their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $260.09.

Illinois Tool Works Stock Up 0.3 %

ITW opened at $240.21 on Tuesday. The company has a market cap of $70.47 billion, a P/E ratio of 20.50, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The business’s 50-day moving average price is $247.11 and its 200-day moving average price is $257.01.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.50%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Illinois Tool Works Company 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.