Savant Capital LLC Has $4.71 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

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

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in Illinois Tool Works by 14.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,101 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 141 shares during the period. Brookstone Capital Management grew its stake in shares of Illinois Tool Works by 1.6% in the third quarter. Brookstone Capital Management now owns 3,986 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 64 shares during the last quarter. Vicus Capital acquired a new stake in Illinois Tool Works in the third quarter valued at $270,000. Cambridge Investment Research Advisors Inc. raised its position in 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 worth $11,227,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth about $286,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

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

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial boosted their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased 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 report on Tuesday, April 2nd. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $257.89.

Illinois Tool Works Stock Down 0.8 %

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

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts expect that Illinois Tool Works Inc. will post 10.5 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

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.