Argonautica Private Wealth Management Inc. Sells 106 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Argonautica Private Wealth Management Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,368 shares of the industrial products company’s stock after selling 106 shares during the period. Illinois Tool Works makes up 1.3% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 18th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $3,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC raised its position in Illinois Tool Works by 60.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 5,245 shares of the industrial products company’s stock worth $1,374,000 after purchasing an additional 1,970 shares during the period. Semanteon Capital Management LP purchased a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $305,000. Gould Asset Management LLC CA purchased a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $209,000. Abbrea Capital LLC increased its position in shares of Illinois Tool Works by 6.0% during the fourth quarter. Abbrea Capital LLC now owns 2,324 shares of the industrial products company’s stock worth $612,000 after acquiring an additional 132 shares during the period. Finally, Syon Capital LLC increased its position in shares of Illinois Tool Works by 26.6% during the fourth quarter. Syon Capital LLC now owns 4,345 shares of the industrial products company’s stock worth $1,138,000 after acquiring an additional 913 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the sale, the chief accounting officer now directly owns 8,870 shares in the company, valued at $2,273,292.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,471 shares of company stock valued at $48,712,316. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ITW shares. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial initiated coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays raised their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Citigroup lifted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.00.

Illinois Tool Works Price Performance

ITW traded up $0.12 on Friday, reaching $248.28. 947,179 shares of the company’s stock were exchanged, compared to its average volume of 1,023,968. The stock has a market cap of $74.17 billion, a PE ratio of 25.49, a P/E/G ratio of 3.65 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 stock’s fifty day moving average price is $260.04 and its 200-day moving average price is $251.37. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders 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 2.26%. Illinois Tool Works’s payout ratio is 57.49%.

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.