Uncommon Cents Investing LLC Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Uncommon Cents Investing LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,705 shares of the industrial products company’s stock after selling 275 shares during the period. Illinois Tool Works accounts for 1.5% of Uncommon Cents Investing LLC’s holdings, making the stock its 13th biggest position. Uncommon Cents Investing LLC’s holdings in Illinois Tool Works were worth $4,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. raised its holdings in shares of Illinois Tool Works by 3.7% during the first quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock worth $2,024,000 after purchasing an additional 348 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Illinois Tool Works by 4.2% during the first quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock worth $1,899,000 after purchasing an additional 368 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Illinois Tool Works by 54.7% during the first quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Illinois Tool Works by 9.9% during the first quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 217 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Illinois Tool Works by 70.7% during the first quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.0 %

Shares of NYSE ITW opened at $268.33 on Friday. The company’s 50-day simple moving average is $260.19 and its 200-day simple moving average is $248.03. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The firm has a market cap of $80.16 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 4.61 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the business posted $2.34 earnings per share. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.09%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ITW. Citigroup raised their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Barclays raised their price target on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Monday, February 5th. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Finally, Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.50.

Insider Activity at Illinois Tool Works

In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s 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 transaction, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,321,252.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 0.88% of the company’s stock.

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.