OLD Republic International Corp Has $62.34 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

OLD Republic International Corp reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 238,000 shares of the industrial products company’s stock after selling 2,500 shares during the period. Illinois Tool Works accounts for about 2.3% of OLD Republic International Corp’s portfolio, making the stock its 12th largest holding. OLD Republic International Corp’s holdings in Illinois Tool Works were worth $62,342,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its stake in Illinois Tool Works by 2.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 41 shares during the last quarter. Summit Financial LLC increased its stake in Illinois Tool Works by 1.6% during the fourth quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 41 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Illinois Tool Works by 2.5% in the 4th quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock valued at $463,000 after acquiring an additional 43 shares during the period. Nicolet Advisory Services LLC boosted its holdings in Illinois Tool Works by 4.5% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 46 shares during the period. Finally, PFG Advisors grew its stake in shares of Illinois Tool Works by 0.7% in the fourth quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.0 %

Shares of Illinois Tool Works stock traded up $0.07 during trading on Friday, hitting $249.80. 165,801 shares of the company were exchanged, compared to its average volume of 1,220,143. The firm has a market capitalization of $74.54 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 3.59 and a beta of 1.14. The firm’s fifty day moving average price is $257.61 and its 200 day moving average price is $252.28. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. 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 released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.29 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 55.23%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Truist Financial raised their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Citigroup upped 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, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $257.78.

Insider Transactions at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 45,676 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,606,361.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 45,676 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,606,361.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly 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. In the last three months, insiders sold 89,471 shares of company stock worth $23,248,816. 1.26% of the stock is owned by company insiders.

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.