Xponance Inc. Has $15.60 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Xponance Inc. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,540 shares of the industrial products company’s stock after selling 1,073 shares during the period. Xponance Inc.’s holdings in Illinois Tool Works were worth $15,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the 4th quarter valued at about $28,000. Briaud Financial Planning Inc purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $29,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ITW. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Citigroup boosted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial began coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Finally, Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $257.00.

Illinois Tool Works Trading Down 0.3 %

Illinois Tool Works stock opened at $248.83 on Friday. 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 business’s 50-day simple moving average is $260.64 and its 200-day simple moving average is $250.65. The firm has a market capitalization of $74.34 billion, a PE ratio of 25.55, a PEG ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s payout ratio is presently 57.49%.

Insider Transactions at Illinois Tool Works

In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works 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 of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,471 shares of company stock worth $48,712,316. Company insiders own 0.88% of the company’s stock.

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.