Eads & Heald Wealth Management Sells 197 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Eads & Heald Wealth Management lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,398 shares of the industrial products company’s stock after selling 197 shares during the period. Illinois Tool Works accounts for approximately 1.4% of Eads & Heald Wealth Management’s holdings, making the stock its 11th biggest position. Eads & Heald Wealth Management’s holdings in Illinois Tool Works were worth $2,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth about $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth about $28,000. Bruce G. Allen Investments LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth about $29,000. Finally, Quarry LP raised its position in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 49 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related 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 approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 in the last 90 days. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITW. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Barclays boosted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Citigroup boosted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $254.78.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock traded up $0.37 during trading hours on Monday, reaching $253.88. The stock had a trading volume of 2,036,390 shares, compared to its average volume of 1,257,321. The stock’s 50 day moving average is $260.94 and its 200 day moving average is $250.37. The firm has a market capitalization of $75.84 billion, a PE ratio of 26.03, a PEG ratio of 3.73 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Equities analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.21%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

About Illinois Tool Works

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.