Western Wealth Management LLC Sells 210 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Western Wealth Management LLC lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,184 shares of the industrial products company’s stock after selling 210 shares during the quarter. Western Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. AIA Group Ltd bought a new position in Illinois Tool Works during the fourth quarter valued at $522,000. Flossbach Von Storch AG lifted its holdings in shares of Illinois Tool Works by 16.6% in the 4th quarter. Flossbach Von Storch AG now owns 240,222 shares of the industrial products company’s stock worth $62,924,000 after acquiring an additional 34,228 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Illinois Tool Works by 90.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 599 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 285 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Illinois Tool Works by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 26,510 shares of the industrial products company’s stock worth $6,944,000 after acquiring an additional 1,441 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth about $29,000. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were 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 in the company, valued at approximately $2,273,292.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 over the last 90 days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

Shares of ITW traded up $1.20 during trading hours on Friday, hitting $250.03. The stock had a trading volume of 136,234 shares, compared to its average volume of 1,227,922. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The firm has a 50-day moving average price of $260.64 and a 200 day moving average price of $250.65. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The firm has a market capitalization of $74.69 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.67 and a beta of 1.13.

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

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ITW. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Citigroup lifted 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. Finally, Truist Financial began 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 for the company. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $257.00.

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.