Boyd Watterson Asset Management LLC OH Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Boyd Watterson Asset Management LLC OH lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,260 shares of the industrial products company’s stock after selling 52 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Illinois Tool Works were worth $330,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in Illinois Tool Works during the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $28,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Barclays upped 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. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $257.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the 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 transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the 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 sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $0.12 during mid-day trading on Friday, reaching $248.28. The company’s stock had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. The stock has a 50-day moving average of $260.04 and a two-hundred day moving average of $251.37. The stock has a market capitalization of $74.17 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 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.