Quantum Private Wealth LLC Has $316,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Quantum Private Wealth LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,205 shares of the industrial products company’s stock after selling 44 shares during the period. Quantum Private Wealth LLC’s holdings in Illinois Tool Works were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 valued at $6,035,292,000 after buying an additional 1,238,239 shares in the last quarter. Northern Trust Corp raised its stake 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 in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Illinois Tool Works by 106,553.0% in the 4th 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 purchasing an additional 7,178,474 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after acquiring an additional 97,568 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Illinois Tool Works by 12.1% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ITW. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Bank of America downgraded 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 report on Wednesday, January 10th. Finally, Citigroup lifted 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. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $254.78.

Illinois Tool Works Trading Down 1.0 %

Shares of NYSE:ITW traded down $2.62 during mid-day trading on Wednesday, reaching $251.21. 1,032,092 shares of the company’s stock were exchanged, compared to its average volume of 974,717. The firm has a market capitalization of $75.05 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 3.73 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The business’s fifty day moving average price is $260.84 and its 200-day moving average price is $250.67. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm 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 company posted $2.34 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.23%. Illinois Tool Works’s payout ratio is 57.49%.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michael M. Larsen sold 37,167 shares of the firm’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 owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction 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 owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,471 shares of company stock valued at $48,712,316. 1.26% of the stock is currently owned by insiders.

About Illinois Tool Works

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.