Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Savant Capital LLC

Savant Capital LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,967 shares of the industrial products company’s stock after selling 321 shares during the quarter. Savant Capital LLC’s holdings in Illinois Tool Works were worth $4,706,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC boosted its position in Illinois Tool Works by 14.7% during the third quarter. Exchange Traded Concepts LLC now owns 1,101 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 141 shares during the last quarter. Brookstone Capital Management lifted its position in Illinois Tool Works by 1.6% during the third quarter. Brookstone Capital Management now owns 3,986 shares of the industrial products company’s stock worth $896,000 after buying an additional 64 shares during the period. Vicus Capital acquired a new stake in Illinois Tool Works in the 3rd quarter worth about $270,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Illinois Tool Works by 7.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 48,749 shares of the industrial products company’s stock valued at $11,227,000 after acquiring an additional 3,363 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter worth approximately $286,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial boosted their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup increased their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays lifted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $257.89.

Illinois Tool Works Stock Down 0.8 %

Shares of Illinois Tool Works stock opened at $242.27 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The business has a 50-day moving average price of $259.40 and a 200 day moving average price of $251.72. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The firm has a market cap of $72.38 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.46 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.5 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors 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 dividend yield of 2.31%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Insider Activity at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’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 sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 of the company’s stock, valued at $2,273,292.30. 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 ninety days. 0.88% of the stock is owned by 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.