Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by ICW Investment Advisors LLC

ICW Investment Advisors LLC trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 9,002 shares of the industrial products company’s stock after selling 40 shares during the period. ICW Investment Advisors LLC’s holdings in Illinois Tool Works were worth $2,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Millstone Evans Group LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $33,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction of $18,431,000.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % 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 over the last 90 days. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup dropped their price target 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. Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. dropped 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 research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Stock Down 0.9 %

NYSE ITW opened at $251.05 on Monday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company’s 50 day simple moving average is $258.48 and its 200 day simple moving average is $260.57. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $73.68 billion, a P/E ratio of 21.42, a PEG ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.39%. 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.