SS&H Financial Advisors Inc. Sells 500 Shares of Illinois Tool Works Inc. (NYSE:ITW)

SS&H Financial Advisors Inc. lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,150 shares of the industrial products company’s stock after selling 500 shares during the period. SS&H Financial Advisors Inc.’s holdings in Illinois Tool Works were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth $25,000. Redwood Park Advisors LLC bought a new position in Illinois Tool Works in the fourth quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in Illinois Tool Works during the fourth quarter worth about $26,000. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Illinois Tool Works by 336.0% in the 4th 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 purchased a new stake in Illinois Tool Works in the fourth quarter worth approximately $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $245.44 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $71.91 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The firm’s 50 day moving average price is $239.70 and its 200-day moving average price is $253.56. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 earnings per share. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.44%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ITW shares. Truist Financial decreased their price objective on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a research note on Wednesday, May 7th. Citigroup lowered their price target on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.42.

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.