Avior Wealth Management LLC Sells 64 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Avior Wealth Management LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,200 shares of the industrial products company’s stock after selling 64 shares during the period. Avior Wealth Management LLC’s holdings in Illinois Tool Works were worth $314,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $29,000. Finally, Quarry LP increased its stake in shares of Illinois Tool Works by 52.7% during the first 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. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $250.46 on Friday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The company has a market cap of $74.82 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.66 and a beta of 1.13. The firm’s fifty day moving average is $260.53 and its two-hundred day moving average is $250.79. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.34 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on ITW. Barclays increased their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Citigroup increased their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.00.

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.