Legacy Financial Advisors Inc. Sells 125 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Legacy Financial Advisors Inc. decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the industrial products company’s stock after selling 125 shares during the period. Legacy Financial Advisors Inc.’s holdings in Illinois Tool Works were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ITW. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the 4th quarter valued at about $29,000. Finally, Rakuten Securities Inc. acquired a new position in Illinois Tool Works during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,471 shares of company stock worth $35,970,816. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

Shares of ITW traded up $1.88 during midday trading on Friday, reaching $243.92. 929,954 shares of the stock were exchanged, compared to its average volume of 1,218,462. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a market cap of $72.87 billion, a P/E ratio of 24.06, a PEG ratio of 3.57 and a beta of 1.14. The stock’s 50 day simple moving average is $258.75 and its 200 day simple moving average is $251.73.

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 net margin of 19.07% and a return on equity of 97.82%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the firm posted $2.33 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s payout ratio is presently 55.23%.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays decreased their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup raised their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $257.78.

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.