Western Wealth Management LLC Has $1.62 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Western Wealth Management LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,184 shares of the industrial products company’s stock after selling 210 shares during the period. Western Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,620,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $4,180,000. Wesbanco Bank Inc. lifted its position in shares of Illinois Tool Works by 23.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after buying an additional 1,152 shares in the last quarter. Ziegler Capital Management LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $224,000. DNB Asset Management AS lifted its position in shares of Illinois Tool Works by 8.0% during the 4th quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after buying an additional 10,062 shares in the last quarter. Finally, Tyche Wealth Partners LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $2,972,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Tuesday, February 6th. The shares were 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 directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Truist Financial began coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $257.00.

Illinois Tool Works Price Performance

NYSE:ITW traded up $1.20 during trading hours on Friday, hitting $250.03. The stock had a trading volume of 136,234 shares, compared to its average volume of 1,227,922. The company has a 50 day simple moving average of $260.64 and a two-hundred day simple moving average of $250.65. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The firm has a market capitalization of $74.69 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.67 and a beta of 1.13.

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

Illinois Tool Works Dividend Announcement

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