Barclays PLC Sells 203,592 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Barclays PLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 26.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 573,374 shares of the industrial products company’s stock after selling 203,592 shares during the period. Barclays PLC owned about 0.19% of Illinois Tool Works worth $145,385,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $28,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $31,000. 79.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $233.44 on Tuesday. The stock’s fifty day simple moving average is $251.88 and its 200 day simple moving average is $258.72. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $68.48 billion, a PE ratio of 19.92, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ITW shares. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI dropped their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Barclays cut their target price on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a “hold” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $260.09.

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.