193,177 Illinois Tool Works Inc. $ITW Shares Sold by Compass Capital Management Inc.

Compass Capital Management Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 96.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,353 shares of the industrial products company’s stock after selling 193,177 shares during the quarter. Compass Capital Management Inc.’s holdings in Illinois Tool Works were worth $1,892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG acquired a new position in Illinois Tool Works during the second quarter valued at approximately $5,017,000. Sanctuary Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $14,028,000. Cibc World Market Inc. acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $3,887,000. Sapient Capital LLC increased its stake in shares of Illinois Tool Works by 227.7% in the 2nd quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company’s stock valued at $3,703,000 after purchasing an additional 9,457 shares during the last quarter. Finally, Fidelity National Financial Inc. bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at $20,583,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.2%

NYSE ITW opened at $287.33 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.29 and a debt-to-equity ratio of 2.28. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The company has a market cap of $81.66 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92. The business’s fifty day moving average is $273.26 and its 200 day moving average is $272.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.03. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 EPS. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 11.49 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $1.72 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is currently 61.32%.

Insider Activity

In other news, Director Ernest Santi sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $292.87, for a total value of $17,572,200.00. Following the completion of the transaction, the director owned 266,333 shares of the company’s stock, valued at $78,000,945.71. This represents a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent analyst reports. UBS Group set a $277.00 price objective on Illinois Tool Works in a research report on Friday, October 9th. Truist Financial reissued a “hold” rating and set a $293.00 target price (down from $297.00) on shares of Illinois Tool Works in a research note on Wednesday, October 28th. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $350.00 to $270.00 in a report on Friday, October 9th. Robert W. Baird increased their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $276.33.

About Illinois Tool Works

Illinois Tool Works Inc. (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions. ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.