Monument Capital Management Decreases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Monument Capital Management lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,024 shares of the industrial products company’s stock after selling 127 shares during the period. Monument Capital Management’s holdings in Illinois Tool Works were worth $530,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ITW. Duality Advisers LP bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $1,204,000. MCF Advisors LLC grew its stake in shares of Illinois Tool Works by 2.7% in the fourth quarter. MCF Advisors LLC now owns 1,831 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 48 shares during the last quarter. Brendel Financial Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $3,564,000. Commerzbank Aktiengesellschaft FI boosted its position in Illinois Tool Works by 67.0% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,324 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 1,333 shares in the last quarter. Finally, Nikulski Financial Inc. boosted its position in Illinois Tool Works by 8.7% during the 4th quarter. Nikulski Financial Inc. now owns 1,017 shares of the industrial products company’s stock valued at $266,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $250.00 on Tuesday. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The firm has a market cap of $74.69 billion, a P/E ratio of 25.67, a PEG ratio of 3.68 and a beta of 1.13. The company has a 50 day moving average of $260.40 and a 200 day moving average of $251.19. 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 (NYSE:ITW) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping 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 analyst estimates of $4.01 billion. During the same period in the previous year, the business earned $2.34 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s payout ratio is currently 57.49%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ITW. Citigroup lifted 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. Bank of America cut 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. Wells Fargo & Company cut 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. Truist Financial assumed coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Four 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.00.

About Illinois Tool Works

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.