Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 60,011 shares of the industrial products company’s stock after selling 559 shares during the period. Illinois Tool Works makes up approximately 1.7% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 16th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Illinois Tool Works were worth $15,719,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI boosted its position in shares of Illinois Tool Works by 139.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 3,123 shares of the industrial products company’s stock worth $818,000 after purchasing an additional 1,820 shares in the last quarter. Kovack Advisors Inc. boosted its position in shares of Illinois Tool Works by 25.3% during the 4th quarter. Kovack Advisors Inc. now owns 1,588 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 321 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Illinois Tool Works by 60.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 5,245 shares of the industrial products company’s stock worth $1,374,000 after purchasing an additional 1,970 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $305,000. Finally, Gould Asset Management LLC CA acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $209,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.0 %

NYSE ITW traded up $0.12 on Friday, reaching $248.28. The company had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. The firm has a market capitalization of $74.17 billion, a PE ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The firm has a 50-day moving average of $260.04 and a 200-day moving average of $251.37. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research reports. Barclays lifted their price target on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Truist Financial initiated coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the stock 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 given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction that occurred on 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 approximately $1,505,185.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 in the last three months. Corporate 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.