Duncker Streett & Co. Inc. Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Duncker Streett & Co. Inc. lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,618 shares of the industrial products company’s stock after selling 194 shares during the period. Duncker Streett & Co. Inc.’s holdings in Illinois Tool Works were worth $3,829,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ITW. Rockline Wealth Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $4,180,000. Wesbanco Bank Inc. grew its position in shares of Illinois Tool Works by 23.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 1,152 shares during the period. Ziegler Capital Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $224,000. DNB Asset Management AS raised its holdings in shares of Illinois Tool Works by 8.0% in the 4th quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after purchasing an additional 10,062 shares during the period. Finally, BKM Wealth Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at approximately $1,770,000. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, 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 transaction of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael M. Larsen sold 37,167 shares of the 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 directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 in the last 90 days. Insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays increased their price target on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial initiated coverage on shares of 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. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $254.78.

Illinois Tool Works Trading Down 1.0 %

Shares of NYSE ITW traded down $2.62 during midday trading on Wednesday, reaching $251.21. The company had a trading volume of 1,032,092 shares, compared to its average volume of 974,717. The firm’s fifty day moving average price is $260.84 and its 200-day moving average price is $250.67. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The stock has a market cap of $75.05 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.73 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data 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 return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.23%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Illinois Tool Works Company 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.