Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,585 shares of the industrial products company’s stock after selling 295 shares during the quarter. Larson Financial Group LLC’s holdings in Illinois Tool Works were worth $402,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Assetmark Inc. increased its stake in shares of Illinois Tool Works by 6.4% in the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 114 shares during the period. XML Financial LLC increased its position in Illinois Tool Works by 2.7% in the 3rd quarter. XML Financial LLC now owns 3,668 shares of the industrial products company’s stock valued at $961,000 after acquiring an additional 97 shares during the period. Covestor Ltd raised its stake in Illinois Tool Works by 16.6% during the 3rd quarter. Covestor Ltd now owns 366 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 52 shares in the last quarter. Sigma Planning Corp boosted its position in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares during the period. Finally, Axxcess Wealth Management LLC grew its stake in shares of Illinois Tool Works by 4.1% in the third quarter. Axxcess Wealth Management LLC now owns 13,462 shares of the industrial products company’s stock worth $3,528,000 after purchasing an additional 531 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ITW. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup dropped their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $269.10.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $267.47 on Tuesday. The stock has a market capitalization of $78.50 billion, a P/E ratio of 22.82, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The business’s fifty day moving average is $257.80 and its two-hundred day moving average is $260.30. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

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

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

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.