Simplicity Wealth LLC Sells 5,845 Shares of Illinois Tool Works Inc. $ITW

Simplicity Wealth LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 59.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,055 shares of the industrial products company’s stock after selling 5,845 shares during the quarter. Simplicity Wealth LLC’s holdings in Illinois Tool Works were worth $1,057,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ITW. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the second quarter worth approximately $25,000. SOA Wealth Advisors LLC. increased its stake in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Corsicana & Co. acquired a new position in Illinois Tool Works during the third quarter worth $26,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Illinois Tool Works by 103.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after buying an additional 63 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the second quarter valued at about $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $258.09 on Friday. The business’s fifty day simple moving average is $251.58 and its 200 day simple moving average is $254.92. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13. The firm has a market capitalization of $74.87 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 13.96 and a beta of 1.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $3.91 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 62.46%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITW shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Truist Financial lowered their price objective on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research report on Monday, October 27th. The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their price target for the company from $258.00 to $230.00 in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.