Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Steph & Co.

Steph & Co. lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400 shares of the industrial products company’s stock after selling 78 shares during the quarter. Steph & Co.’s holdings in Illinois Tool Works were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ITW. Moneta Group Investment Advisors LLC boosted its holdings in shares of Illinois Tool Works by 106,553.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after acquiring an additional 7,178,474 shares in the last quarter. Norges Bank bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $708,259,000. Morgan Stanley boosted its holdings in Illinois Tool Works by 59.2% during the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after buying an additional 1,707,780 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its holdings in Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.7 %

NYSE ITW opened at $249.54 on Thursday. The firm has a market cap of $74.55 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.69 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The stock’s 50 day simple moving average is $260.75 and its 200 day simple moving average is $250.66. 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 (NYSE:ITW) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $2.34 EPS. As a group, sell-side 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 declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred 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 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 have sold 189,471 shares of company stock worth $48,712,316 in the last three months. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ITW shares. Barclays raised their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Citigroup raised their price objective 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 objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $257.00.

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.