Brave Asset Management Inc. Sells 88 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Brave Asset Management Inc. reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,867 shares of the industrial products company’s stock after selling 88 shares during the quarter. Brave Asset Management Inc.’s holdings in Illinois Tool Works were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Rockline Wealth Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $4,180,000. Wesbanco Bank Inc. increased its stake in shares of Illinois Tool Works by 23.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $224,000. DNB Asset Management AS increased its stake in shares of Illinois Tool Works by 8.0% in the 4th quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock valued at $35,506,000 after acquiring an additional 10,062 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $1,770,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.0 %

Shares of Illinois Tool Works stock traded up $0.12 on Thursday, reaching $268.33. 1,127,371 shares of the company were exchanged, compared to its average volume of 1,297,507. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The company has a market capitalization of $80.16 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.56 and a beta of 1.13. 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 company has a 50-day moving average of $260.19 and a 200 day moving average of $248.03.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ITW shares. Barclays boosted their price objective on Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Monday, February 5th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Truist Financial assumed coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $245.50.

Insider Activity at Illinois Tool Works

In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. In the last quarter, 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 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.