Argonautica Private Wealth Management Inc. Sells 106 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Argonautica Private Wealth Management Inc. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,368 shares of the industrial products company’s stock after selling 106 shares during the period. Illinois Tool Works makes up 1.3% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 18th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Illinois Tool Works were worth $3,240,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Cornerstone Wealth Management LLC grew its stake in Illinois Tool Works by 2.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 41 shares during the period. Nicolet Advisory Services LLC grew its stake in Illinois Tool Works by 4.5% in the third quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 46 shares during the period. PFG Advisors grew its stake in Illinois Tool Works by 0.7% in the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 46 shares during the period. Crestwood Advisors Group LLC grew its stake in Illinois Tool Works by 1.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after acquiring an additional 46 shares during the period. Finally, Mcdonald Partners LLC grew its stake in Illinois Tool Works by 1.0% in the third quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock valued at $1,104,000 after acquiring an additional 47 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW traded up $0.12 during trading on Friday, hitting $248.28. The company’s stock had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. 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 firm has a market cap of $74.17 billion, a PE ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. The business’s 50 day simple moving average is $260.04 and its 200-day simple moving average is $251.37.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $2.34 EPS. Illinois Tool Works’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the 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 sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works 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 transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. 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 90 days. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Barclays raised their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Truist Financial initiated coverage on Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $257.00.

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.