Illinois Tool Works Inc. (NYSE:ITW) Position Trimmed by Windle Wealth LLC

Windle Wealth LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,631 shares of the industrial products company’s stock after selling 817 shares during the quarter. Illinois Tool Works makes up approximately 4.5% of Windle Wealth LLC’s portfolio, making the stock its 4th largest position. Windle Wealth LLC’s holdings in Illinois Tool Works were worth $6,452,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new position in Illinois Tool Works during the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $29,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ITW shares. Truist Financial upped their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company cut their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Barclays lowered their price objective on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Finally, Citigroup increased their price target 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 analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $257.78.

Get Our Latest Stock Analysis on Illinois Tool Works

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

NYSE:ITW traded up $0.83 during mid-day trading on Friday, hitting $250.60. The company’s stock had a trading volume of 961,778 shares, compared to its average volume of 1,090,778. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The stock has a fifty day moving average of $256.40 and a 200-day moving average of $253.58. The company has a market capitalization of $74.78 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 3.71 and a beta of 1.14.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.24 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

Illinois Tool Works Profile

(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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