Insider Selling: Illinois Tool Works Inc. (NYSE:ITW) EVP Sells 64,894 Shares of Stock

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Illinois Tool Works Inc. (NYSE:ITW) EVP Juan Valls sold 64,894 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $160.51, for a total transaction of $10,416,135.94. Following the completion of the sale, the executive vice president now owns 67,047 shares in the company, valued at $10,761,713.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of NYSE:ITW opened at $157.30 on Thursday. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $161.71. The company has a quick ratio of 2.30, a current ratio of 2.87 and a debt-to-equity ratio of 2.52. The company’s fifty day simple moving average is $151.16 and its 200 day simple moving average is $149.95. The firm has a market cap of $50.58 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.83 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a net margin of 17.17% and a return on equity of 76.17%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Research analysts expect that Illinois Tool Works Inc. will post 7.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, September 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

Several equities research analysts have weighed in on ITW shares. Zacks Investment Research lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price on the stock. in a report on Tuesday, July 9th. UBS Group increased their target price on shares of Illinois Tool Works from $150.00 to $154.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Credit Suisse Group increased their target price on shares of Illinois Tool Works from $124.00 to $152.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price on the stock. in a report on Wednesday, June 26th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $142.33.

Several large investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its position in Illinois Tool Works by 76.0% in the second quarter. Private Advisor Group LLC now owns 36,641 shares of the industrial products company’s stock valued at $5,526,000 after purchasing an additional 15,824 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Illinois Tool Works by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,401,495 shares of the industrial products company’s stock valued at $362,170,000 after purchasing an additional 65,298 shares in the last quarter. First Personal Financial Services grew its position in Illinois Tool Works by 26.4% in the second quarter. First Personal Financial Services now owns 460 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 96 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Illinois Tool Works by 10.4% in the second quarter. Janney Montgomery Scott LLC now owns 88,353 shares of the industrial products company’s stock valued at $13,325,000 after purchasing an additional 8,288 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Illinois Tool Works in the first quarter valued at $481,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Recommended Story: Outperform Rating

Insider Buying and Selling by Quarter for Illinois Tool Works (NYSE:ITW)

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