Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Brandywine Oak Private Wealth LLC

Brandywine Oak Private Wealth LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,545 shares of the industrial products company’s stock after selling 100 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Illinois Tool Works were worth $405,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ITW. MONECO Advisors LLC grew its holdings in Illinois Tool Works by 40.5% during the fourth quarter. MONECO Advisors LLC now owns 2,740 shares of the industrial products company’s stock worth $718,000 after acquiring an additional 790 shares during the period. Brighton Jones LLC grew its holdings in Illinois Tool Works by 3.4% during the fourth quarter. Brighton Jones LLC now owns 4,353 shares of the industrial products company’s stock worth $1,140,000 after acquiring an additional 142 shares during the period. Mission Wealth Management LP grew its holdings in Illinois Tool Works by 46.3% during the fourth quarter. Mission Wealth Management LP now owns 2,799 shares of the industrial products company’s stock worth $733,000 after acquiring an additional 886 shares during the period. Certuity LLC grew its holdings in Illinois Tool Works by 15.8% during the fourth quarter. Certuity LLC now owns 1,113 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 152 shares during the period. Finally, Norden Group LLC grew its holdings in Illinois Tool Works by 25.8% during the fourth quarter. Norden Group LLC now owns 1,331 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 273 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research analyst reports. Citigroup lifted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays lifted their price target on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company dropped their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $257.89.

Illinois Tool Works Stock Down 0.8 %

Shares of Illinois Tool Works stock opened at $242.27 on Thursday. The firm has a market cap of $72.38 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 3.46 and a beta of 1.14. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The stock has a 50-day simple moving average of $259.40 and a 200-day simple moving average of $251.72.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the company earned $2.33 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.5 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Insiders Place Their Bets

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 8,870 shares in the company, valued at $2,273,292.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 in the last three months. Company insiders own 0.88% of the company’s stock.

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.