Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,902 shares of the industrial products company’s stock after selling 601 shares during the period. Illinois Tool Works accounts for approximately 1.5% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 17th largest holding. Horan Capital Advisors LLC.’s holdings in Illinois Tool Works were worth $4,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ITW. Merit Financial Group LLC increased its stake in shares of Illinois Tool Works by 19.7% in the fourth quarter. Merit Financial Group LLC now owns 7,987 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 1,314 shares during the period. Loudon Investment Management LLC raised its stake in Illinois Tool Works by 2.5% during the 4th quarter. Loudon Investment Management LLC now owns 18,341 shares of the industrial products company’s stock valued at $4,804,000 after acquiring an additional 443 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Illinois Tool Works by 573.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 159,198 shares of the industrial products company’s stock valued at $41,700,000 after acquiring an additional 135,543 shares in the last quarter. Summit Global Investments grew its stake in shares of Illinois Tool Works by 13.4% in the fourth quarter. Summit Global Investments now owns 1,264 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 149 shares in the last quarter. Finally, Natixis Advisors L.P. increased its holdings in shares of Illinois Tool Works by 2.3% during the fourth quarter. Natixis Advisors L.P. now owns 226,776 shares of the industrial products company’s stock valued at $59,401,000 after purchasing an additional 5,165 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold 139,471 shares of company stock worth $35,970,816 over the last 90 days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $243.92 on Friday. The stock has a market capitalization of $72.87 billion, a P/E ratio of 24.06, a P/E/G ratio of 3.57 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. The business’s fifty day moving average is $258.75 and its two-hundred day moving average is $251.73. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. Illinois Tool Works’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.29 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITW. Truist Financial upped their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays decreased their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a report on Thursday. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Citigroup increased their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $257.78.

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.