Sfmg LLC Sells 88 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sfmg LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,161 shares of the industrial products company’s stock after selling 88 shares during the quarter. Sfmg LLC’s holdings in Illinois Tool Works were worth $304,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Northern Trust Corp raised its position in Illinois Tool Works by 1.9% in the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after purchasing an additional 244,145 shares during the period. Moneta Group Investment Advisors LLC increased its position 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of Illinois Tool Works by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after acquiring an additional 97,568 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 12.1% in the first quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock valued at $1,363,875,000 after acquiring an additional 607,321 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were 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 of the company’s stock, valued at $2,273,292.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s 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 valued at $48,712,316 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Citigroup boosted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Truist Financial initiated coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective 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. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $257.00.

Check Out Our Latest Research Report on ITW

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $249.54 on Thursday. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company’s 50-day moving average is $260.75 and its 200 day moving average is $250.66. The stock has a market capitalization of $74.55 billion, a P/E ratio of 25.62, a P/E/G ratio of 3.69 and a beta of 1.13.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate 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. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is currently 57.49%.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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