Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Leisure Capital Management

Leisure Capital Management lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,530 shares of the industrial products company’s stock after selling 1,080 shares during the quarter. Illinois Tool Works comprises about 0.9% of Leisure Capital Management’s investment portfolio, making the stock its 29th biggest position. Leisure Capital Management’s holdings in Illinois Tool Works were worth $1,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ITW. Vanguard Group Inc. boosted its holdings in shares of Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted its holdings in Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after acquiring an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Illinois Tool Works by 77.5% in the third quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after acquiring an additional 260,679 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Illinois Tool Works by 57.1% in the third quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock valued at $161,131,000 after acquiring an additional 254,321 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ITW shares. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Citigroup raised their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Truist Financial started coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $257.00.

Illinois Tool Works Stock Up 0.0 %

NYSE:ITW traded up $0.12 during mid-day trading on Friday, reaching $248.28. The stock had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. The company has a market capitalization of $74.17 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The stock’s 50 day simple moving average is $260.04 and its two-hundred day simple moving average 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 issued its 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 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 previous year, the firm posted $2.34 earnings per share. Illinois Tool Works’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s payout ratio is currently 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.