Proficio Capital Partners LLC Has $439,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Proficio Capital Partners LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 44.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,730 shares of the industrial products company’s stock after acquiring an additional 536 shares during the quarter. Proficio Capital Partners LLC’s holdings in Illinois Tool Works were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC grew its stake in Illinois Tool Works by 17.2% during the third quarter. Kingsview Wealth Management LLC now owns 10,126 shares of the industrial products company’s stock worth $2,654,000 after buying an additional 1,483 shares in the last quarter. Swedbank AB lifted its holdings in shares of Illinois Tool Works by 2.0% during the 3rd quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after acquiring an additional 1,768 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Illinois Tool Works by 51.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 4,701 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 1,589 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Illinois Tool Works by 11.8% in the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock valued at $9,680,000 after acquiring an additional 3,903 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after purchasing an additional 135,023 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 over the last ninety days. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Up 1.8 %

ITW opened at $255.86 on Tuesday. The company’s 50 day moving average price is $258.60 and its two-hundred day moving average price is $260.66. The firm has a market capitalization of $75.09 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid 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 of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ITW shares. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given 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 an average price target of $269.10.

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.