Illinois Tool Works (NYSE:ITW) Hits New 12-Month Low – Time to Sell?

Shares of Illinois Tool Works Inc. (NYSE:ITW) reached a new 52-week low during trading on Friday . The company traded as low as $227.19 and last traded at $231.81, with a volume of 380828 shares. The stock had previously closed at $239.44.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. 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 report on Thursday, December 19th. Citigroup dropped their price target 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. JPMorgan Chase & Co. lowered their price objective 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. Finally, Stifel Nicolaus cut their target price on shares of 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $268.30.

Illinois Tool Works Price Performance

The company’s 50 day simple moving average is $256.77 and its 200 day simple moving average is $260.44. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $66.08 billion, a PE ratio of 19.22, a PEG ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current 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 issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.66%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % 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, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last three months. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Illinois Tool Works

Institutional investors have recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC grew its stake in Illinois Tool Works by 289.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 30,201 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 22,449 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the last quarter. Dean Investment Associates LLC acquired a new stake in Illinois Tool Works in the third quarter valued at $2,793,000. MML Investors Services LLC boosted its stake in Illinois Tool Works by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 60,229 shares of the industrial products company’s stock valued at $15,784,000 after acquiring an additional 1,905 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Illinois Tool Works by 35.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 8,786 shares of the industrial products company’s stock worth $2,303,000 after purchasing an additional 2,312 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.