Foster & Motley Inc. Sells 175 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Foster & Motley Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.1% in the fourth quarter, Holdings Channel reports. The fund owned 4,043 shares of the industrial products company’s stock after selling 175 shares during the quarter. Foster & Motley Inc.’s holdings in Illinois Tool Works were worth $1,059,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc purchased a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth $28,000. Bruce G. Allen Investments LLC bought a new position in Illinois Tool Works during the fourth quarter valued at $29,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares in the company, valued at $2,273,292.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 over the last three months. Corporate insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of several analyst reports. Barclays upped their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Truist Financial assumed coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Stifel Nicolaus increased their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Price Performance

ITW opened at $250.64 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The business’s fifty day simple moving average is $260.38 and its 200-day simple moving average is $251.30. The company has a market capitalization of $74.88 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.34 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

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.