Fiduciary Group LLC Sells 238 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Fiduciary Group LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,058 shares of the industrial products company’s stock after selling 238 shares during the period. Fiduciary Group LLC’s holdings in Illinois Tool Works were worth $3,057,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC grew its holdings in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Atlantic Private Wealth LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $33,000. Finally, Hager Investment Management Services LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITW. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays set a $260.00 price objective on Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $269.10.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Up 0.7 %

Shares of ITW opened at $256.46 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a 50 day simple moving average of $258.24 and a two-hundred day simple moving average of $260.45. The firm has a market cap of $75.27 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s payout ratio is currently 51.19%.

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.