Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Brave Asset Management Inc.

Brave Asset Management Inc. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the industrial products company’s stock after selling 88 shares during the period. Brave Asset Management Inc.’s holdings in Illinois Tool Works were worth $489,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at $4,180,000. Wesbanco Bank Inc. increased its stake in Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after purchasing an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at $224,000. DNB Asset Management AS increased its stake in Illinois Tool Works by 8.0% during the fourth quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock valued at $35,506,000 after purchasing an additional 10,062 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at $1,770,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. 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 target price for the company. 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 research report on Tuesday, January 23rd. Barclays upped their price target on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Finally, Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $245.50.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s 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 transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the company’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 transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

NYSE ITW traded up $0.12 on Thursday, reaching $268.33. The company’s stock had a trading volume of 1,127,371 shares, compared to its average volume of 1,297,507. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a market cap of $80.16 billion, a PE ratio of 27.62, a PEG ratio of 4.56 and a beta of 1.13. The firm’s 50 day moving average is $260.19 and its two-hundred day moving average is $248.03.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating 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 company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the company earned $2.34 EPS. Illinois Tool Works’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Illinois Tool Works 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.