Tilt Investment Management Holdings PBC Trims Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Tilt Investment Management Holdings PBC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,103 shares of the industrial products company’s stock after selling 368 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Illinois Tool Works were worth $290,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $28,000. Briaud Financial Planning Inc purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. bought a new position in Illinois Tool Works during the 4th quarter valued at approximately $29,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW traded down $0.89 during mid-day trading on Thursday, hitting $248.65. 383,268 shares of the company traded hands, compared to its average volume of 1,237,013. The stock has a market cap of $74.28 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 3.69 and a beta of 1.13. The stock has a 50-day moving average price of $260.75 and a two-hundred day moving average price of $250.66. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33.

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

Illinois Tool Works Dividend Announcement

The company 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. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.25%. Illinois Tool Works’s payout ratio is 57.49%.

Analyst Ratings Changes

A number of research firms have recently commented on ITW. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial began coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Barclays boosted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works 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.