Illinois Tool Works Inc. $ITW Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,683 shares of the industrial products company’s stock after selling 2,754 shares during the quarter. Boston Trust Walden Corp owned approximately 0.06% of Illinois Tool Works worth $47,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ITW. Putney Financial Group LLC bought a new position in shares of Illinois Tool Works in the third quarter worth $26,000. Continuum Advisory LLC bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $29,000. Physician Wealth Advisors Inc. grew its holdings in shares of Illinois Tool Works by 77.8% in the third quarter. Physician Wealth Advisors Inc. now owns 112 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 49 shares during the last quarter. Wilkerson Advisory Group LLC raised its stake in shares of Illinois Tool Works by 77.6% during the first quarter. Wilkerson Advisory Group LLC now owns 119 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Illinois Tool Works in the 1st quarter worth approximately $32,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Santi sold 41,431 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares of the company’s stock, valued at $76,448,621.92. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.83% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $293.73 on Thursday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. The firm has a 50 day moving average price of $271.86 and a 200-day moving average price of $271.16. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The firm has a market capitalization of $83.48 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.15 and a beta of 0.92.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.03. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.26 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 11.49 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be paid a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.32%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup decreased their target price on Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating for the company in a report on Wednesday, October 28th. UBS Group set a $277.00 price target on Illinois Tool Works in a research note on Friday, October 9th. Truist Financial reiterated a “hold” rating and issued a $293.00 price target (down from $297.00) on shares of Illinois Tool Works in a report on Wednesday, October 28th. The Goldman Sachs Group reissued a “sell” rating and set a $270.00 price objective on shares of Illinois Tool Works in a research report on Tuesday, October 27th. Finally, Robert W. Baird upped their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $276.33.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.