Quantum Private Wealth LLC Has $316,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Quantum Private Wealth LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,205 shares of the industrial products company’s stock after selling 44 shares during the period. Quantum Private Wealth LLC’s holdings in Illinois Tool Works were worth $316,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new stake in Illinois Tool Works during the third quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at $29,000. Finally, Quarry LP raised its holdings 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 acquiring an additional 49 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ITW. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Barclays raised their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus upped their price target on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Truist Financial began 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. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $254.78.

Insider Activity

In related news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was 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 directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the 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 owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,471 shares of company stock worth $48,712,316. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW traded down $2.62 on Wednesday, reaching $251.21. The company’s stock had a trading volume of 1,032,092 shares, compared to its average volume of 974,717. 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 business has a 50-day moving average price of $260.84 and a 200 day moving average price of $250.67. The firm has a market cap of $75.05 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.73 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

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

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 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.