Arkadios Wealth Advisors Reduces Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Arkadios Wealth Advisors trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,900 shares of the industrial products company’s stock after selling 837 shares during the period. Arkadios Wealth Advisors’ holdings in Illinois Tool Works were worth $4,689,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ITW. Moneta Group Investment Advisors LLC increased its holdings in Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after acquiring an additional 7,178,474 shares in the last quarter. Norges Bank acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $708,259,000. Morgan Stanley increased its stake in shares of Illinois Tool Works by 59.2% during the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after purchasing an additional 1,707,780 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 5.0% during the 3rd 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. Finally, Alecta Tjanstepension Omsesidigt lifted its stake in Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after buying an additional 675,000 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $262.94 on Friday. The firm has a market capitalization of $78.55 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.85 and a beta of 1.13. The company has a 50 day moving average price of $261.09 and a 200 day moving average price of $249.26. Illinois Tool Works Inc. has a one year low of $217.06 and a one year 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.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping 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 business 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 firm posted $2.34 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’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 value of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup raised their price target on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Truist Financial started coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Wells Fargo & Company downgraded 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 report on Tuesday, February 6th. Finally, Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $246.10.

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.