Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Telemus Capital LLC

Telemus Capital LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,708 shares of the industrial products company’s stock after selling 91 shares during the quarter. Telemus Capital LLC’s holdings in Illinois Tool Works were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Alecta Tjanstepension Omsesidigt raised its position in shares of Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares during the period. International Assets Investment Management LLC raised its position in shares of Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after purchasing an additional 313,906 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Illinois Tool Works by 77.5% in the third quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after purchasing an additional 260,679 shares during the period. Finally, Barclays PLC increased its position in Illinois Tool Works by 57.1% during the third quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock worth $161,131,000 after acquiring an additional 254,321 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the sale, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. In the last three months, insiders sold 189,471 shares of company stock valued at $48,712,316. 1.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research reports. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial assumed coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. 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. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Barclays lifted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Stock Down 0.2 %

Shares of NYSE ITW opened at $250.00 on Tuesday. The company has a market cap of $74.69 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The firm’s 50-day simple moving average is $260.40 and its 200 day simple moving average is $251.19.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The company 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 revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share 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. Investors of record on Friday, March 29th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s payout ratio is 57.49%.

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.