Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 39.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,165 shares of the industrial products company’s stock after selling 1,407 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Illinois Tool Works were worth $581,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $818,408,000. Alecta Tjanstepension Omsesidigt boosted its holdings in Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after buying an additional 675,000 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Illinois Tool Works by 122.7% during the fourth quarter. Corient Private Wealth LLC now owns 629,636 shares of the industrial products company’s stock worth $164,927,000 after buying an additional 346,919 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Illinois Tool Works by 23,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock worth $82,579,000 after purchasing an additional 313,906 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in Illinois Tool Works in the 1st quarter worth approximately $65,747,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITW. Barclays decreased their price objective on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Truist Financial cut their price target on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. 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 report on Monday, April 8th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $259.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.10.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $1.76 during mid-day trading on Friday, reaching $247.53. 182,823 shares of the company were exchanged, compared to its average volume of 1,161,563. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The company’s 50-day simple moving average is $241.67 and its 200-day simple moving average is $251.99. The stock has a market capitalization of $73.86 billion, a P/E ratio of 24.58, a P/E/G ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm 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 company’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.19 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th 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 of this dividend was Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

Illinois Tool Works Company 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.