Uncommon Cents Investing LLC Lowers Position in Illinois Tool Works Inc. (NYSE:ITW)

Uncommon Cents Investing LLC trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,705 shares of the industrial products company’s stock after selling 275 shares during the quarter. Illinois Tool Works comprises 1.5% of Uncommon Cents Investing LLC’s portfolio, making the stock its 13th largest position. Uncommon Cents Investing LLC’s holdings in Illinois Tool Works were worth $4,638,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in Illinois Tool Works in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $29,000. Quarry LP lifted its position in Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after buying an additional 49 shares in the last quarter. Union Savings Bank acquired a new position in Illinois Tool Works during the second quarter valued at approximately $39,000. Finally, Arlington Trust Co LLC acquired a new position in Illinois Tool Works during the third quarter valued at approximately $38,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ITW shares. Citigroup lifted their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $245.50.

Illinois Tool Works Stock Up 0.0 %

Shares of NYSE:ITW opened at $268.33 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The company has a fifty day simple moving average of $260.19 and a 200 day simple moving average of $248.03. The firm has a market cap of $80.16 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 4.61 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.09%. Illinois Tool Works’s payout ratio is 57.49%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 over the last 90 days. Insiders own 0.88% of the company’s stock.

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.