Illinois Tool Works Inc. (NYSE:ITW) Stake Reduced by Sfmg LLC

Sfmg LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,161 shares of the industrial products company’s stock after selling 88 shares during the quarter. Sfmg LLC’s holdings in Illinois Tool Works were worth $304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Briaud Financial Planning Inc acquired a new stake in Illinois Tool Works during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. Bruce G. Allen Investments LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth about $29,000. Finally, Quarry LP raised its holdings in Illinois Tool Works by 52.7% during the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITW has been the topic of several recent analyst reports. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial began coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Citigroup lifted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’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 transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. 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 in the last ninety days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.7 %

Shares of NYSE ITW opened at $249.54 on Thursday. The business has a 50 day simple moving average of $260.75 and a 200 day simple moving average of $250.66. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. 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 stock has a market cap of $74.55 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.69 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company earned $2.34 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share 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. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

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.