Valmark Advisers Inc. Lowers Stake in Illinois Tool Works Inc. (NYSE:ITW)

Valmark Advisers Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,042 shares of the industrial products company’s stock after selling 454 shares during the period. Valmark Advisers Inc.’s holdings in Illinois Tool Works were worth $2,368,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 1.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after buying an additional 84 shares during the last quarter. Rockline Wealth Management LLC purchased a new position in Illinois Tool Works in the fourth quarter worth about $4,180,000. Wesbanco Bank Inc. raised its holdings in Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after buying an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC purchased a new position in Illinois Tool Works in the fourth quarter worth about $224,000. Finally, Tyche Wealth Partners LLC purchased a new position in Illinois Tool Works in the fourth quarter worth about $2,972,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following 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. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW traded up $0.12 during trading hours on Friday, hitting $248.28. 947,179 shares of the company’s stock traded hands, compared to its average volume of 1,023,968. The business’s fifty day moving average price is $260.04 and its two-hundred day moving average price is $251.37. 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 firm has a market capitalization of $74.17 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.01. The company 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 firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 earnings per share. Equities research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Bank of America lowered shares of 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 note on Wednesday, January 10th. Citigroup lifted their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lowered shares of 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 note on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $257.00.

About Illinois Tool Works

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.