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

Mutual Advisors LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,545 shares of the industrial products company’s stock after selling 51 shares during the quarter. Mutual Advisors LLC’s holdings in Illinois Tool Works were worth $667,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in Illinois Tool Works in the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. Quarry LP increased its stake in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. Arlington Trust Co LLC acquired a new position in Illinois Tool Works during the third quarter worth $38,000. Finally, Union Savings Bank purchased a new stake in Illinois Tool Works during the second quarter worth $39,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ITW. Stifel Nicolaus lifted their price target on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Truist Financial initiated coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Barclays raised their price target on Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $245.50.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 over the last three months. 0.78% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $268.26 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The firm’s fifty day moving average price is $259.83 and its 200 day moving average price is $247.89. The company has a market capitalization of $80.14 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 4.57 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.09%. Illinois Tool Works’s payout ratio is 57.49%.

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.