Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,731 shares of the industrial products company’s stock after selling 174 shares during the period. Venturi Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,239,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works in the third quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at $29,000. Quarry LP lifted its stake in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth about $38,000. Finally, Union Savings Bank purchased a new position in Illinois Tool Works during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $0.26 during trading hours on Wednesday, reaching $264.19. 53,740 shares of the company were exchanged, compared to its average volume of 1,265,510. The firm has a market cap of $78.93 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 4.56 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a 50-day moving average of $260.97 and a 200 day moving average of $248.89. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ITW shares. Stifel Nicolaus lifted their target price on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company cut 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. Truist Financial started coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Citigroup boosted their price target on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $246.10.

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. 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 three months. 0.88% of the stock is currently owned by insiders.

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.