Wade G W & Inc. Sells 228 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wade G W & Inc. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,804 shares of the industrial products company’s stock after selling 228 shares during the period. Wade G W & Inc.’s holdings in Illinois Tool Works were worth $2,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. ING Groep NV purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $126,000. Perigon Wealth Management LLC lifted its position in shares of Illinois Tool Works by 8.2% in the 3rd quarter. Perigon Wealth Management LLC now owns 1,533 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 116 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $270,000. Kornitzer Capital Management Inc. KS lifted its position in shares of Illinois Tool Works by 7.6% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 2,112 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 150 shares during the period. Finally, Community Bank & Trust Waco Texas purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $268,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the business’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 transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $0.73 during trading on Friday, reaching $249.04. 132,261 shares of the company traded hands, compared to its average volume of 1,199,151. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The firm has a 50 day simple moving average of $256.61 and a 200-day simple moving average of $253.19. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The stock has a market capitalization of $74.31 billion, a PE ratio of 24.63, a P/E/G ratio of 3.69 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.24 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ITW shares. Truist Financial lifted their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Barclays lowered their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.78.

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.