Insider Selling: Illinois Tool Works Inc. (NYSE:ITW) CFO Sells 35,617 Shares of Stock

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Illinois Tool Works Inc. (NYSE:ITW) CFO Michael M. Larsen sold 35,617 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the transaction, the chief financial officer now owns 38,726 shares in the company, valued at approximately $6,181,056.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

NYSE ITW opened at $157.30 on Thursday. The business has a 50 day simple moving average of $151.16 and a 200 day simple moving average of $149.95. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $161.71. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. The stock 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 posted its earnings results on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the business earned $1.97 EPS. Illinois Tool Works’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 7.69 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. River & Mercantile Asset Management LLP bought a new stake in Illinois Tool Works during the 2nd quarter worth approximately $1,141,000. Atria Investments LLC increased its stake in Illinois Tool Works by 17.9% during the 2nd quarter. Atria Investments LLC now owns 5,012 shares of the industrial products company’s stock worth $745,000 after purchasing an additional 761 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Illinois Tool Works during the 2nd quarter worth approximately $250,000. RFG Advisory LLC increased its stake in Illinois Tool Works by 17.4% during the 2nd quarter. RFG Advisory LLC now owns 2,295 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 340 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Illinois Tool Works by 3.0% during the 2nd quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock worth $3,053,058,000 after purchasing an additional 581,489 shares in the last quarter. 77.46% of the stock is owned by institutional investors and hedge funds.

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

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.

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

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