Revisor Wealth Management LLC Sells 532 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Revisor Wealth Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 33.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,055 shares of the industrial products company’s stock after selling 532 shares during the period. Revisor Wealth Management LLC’s holdings in Illinois Tool Works were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Glass Jacobson Investment Advisors llc grew its stake in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter worth $31,000. Finally, Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $32,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITW has been the topic of several recent research reports. JPMorgan Chase & Co. lowered 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 note on Monday, February 3rd. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Stifel Nicolaus increased their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Truist Financial decreased their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works Trading Down 1.1%

Shares of Illinois Tool Works stock opened at $242.03 on Friday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a market capitalization of $70.91 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 4.56 and a beta of 1.12. The business has a fifty day simple moving average of $241.07 and a two-hundred day simple moving average of $255.05. 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 earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the company posted $2.44 EPS. Illinois Tool Works’s quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s payout ratio is 52.77%.

Insider Transactions at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the 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 sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09% decrease in their position. The disclosure for this sale can be found here. 0.88% of the stock is owned by corporate insiders.

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.