Motco Has $280,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Motco decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 47.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,103 shares of the industrial products company’s stock after selling 1,000 shares during the period. Motco’s holdings in Illinois Tool Works were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Illinois Tool Works by 12.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 1,000 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth about $203,000. SteelPeak Wealth LLC raised its position in shares of Illinois Tool Works by 4.8% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,057 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 48 shares in the last quarter. Financial Advocates Investment Management raised its position in shares of Illinois Tool Works by 4.9% in the 3rd quarter. Financial Advocates Investment Management now owns 4,051 shares of the industrial products company’s stock worth $1,062,000 after acquiring an additional 190 shares in the last quarter. Finally, Goldstone Financial Group LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth about $375,000. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ITW shares. Citigroup lowered their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Price Performance

ITW stock opened at $263.99 on Friday. The company has a market capitalization of $77.48 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The business has a 50-day simple moving average of $257.00 and a two-hundred day simple moving average of $259.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.