Hartline Investment Corp Sells 85 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Hartline Investment Corp lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,017 shares of the industrial products company’s stock after selling 85 shares during the period. Illinois Tool Works makes up approximately 0.6% of Hartline Investment Corp’s holdings, making the stock its 28th largest position. Hartline Investment Corp’s holdings in Illinois Tool Works were worth $3,934,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Summit Global Investments lifted its stake in shares of Illinois Tool Works by 13.8% in the third quarter. Summit Global Investments now owns 1,115 shares of the industrial products company’s stock valued at $257,000 after buying an additional 135 shares during the period. Flagship Harbor Advisors LLC lifted its position in shares of Illinois Tool Works by 5.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,666 shares of the industrial products company’s stock worth $384,000 after acquiring an additional 87 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of Illinois Tool Works by 0.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 24,927 shares of the industrial products company’s stock worth $5,743,000 after purchasing an additional 197 shares in the last quarter. Park Place Capital Corp increased its position in shares of Illinois Tool Works by 6.9% during the third quarter. Park Place Capital Corp now owns 1,601 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Illinois Tool Works by 59.4% in the third quarter. Newbridge Financial Services Group Inc. now owns 604 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Finally, Citigroup boosted 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. Four 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. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $257.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,321,252.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Up 0.4 %

Shares of NYSE:ITW traded up $1.12 during mid-day trading on Wednesday, reaching $251.76. 1,252,463 shares of the stock were exchanged, compared to its average volume of 1,246,599. The stock’s 50 day simple moving average is $260.38 and its 200-day simple moving average is $251.30. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The company has a market cap of $75.21 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10.

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, topping analysts’ consensus estimates 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 business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.22%. Illinois Tool Works’s payout ratio is presently 57.49%.

Illinois Tool Works Company 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.