BOK Financial Private Wealth Inc. Sells 46 Shares of Illinois Tool Works Inc. (NYSE:ITW)

BOK Financial Private Wealth Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 251 shares of the industrial products company’s stock after selling 46 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Illinois Tool Works were worth $64,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ITW. Capital Performance Advisors LLP purchased a new stake in Illinois Tool Works in the third quarter worth $69,000. CWA Asset Management Group LLC purchased a new stake in Illinois Tool Works in the third quarter worth $2,672,000. Verdence Capital Advisors LLC increased its stake in Illinois Tool Works by 2.3% in the third quarter. Verdence Capital Advisors LLC now owns 9,808 shares of the industrial products company’s stock worth $2,570,000 after purchasing an additional 218 shares during the period. Assetmark Inc. increased its stake in Illinois Tool Works by 6.4% in the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 114 shares during the period. Finally, Essex Savings Bank increased its stake in Illinois Tool Works by 2.1% in the third quarter. Essex Savings Bank now owns 4,098 shares of the industrial products company’s stock worth $1,074,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $274.89 on Monday. The business’s 50-day moving average is $257.54 and its two-hundred day moving average is $260.15. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $80.68 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

A number of analysts have weighed in on ITW shares. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $269.30.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by insiders.

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.