Avior Wealth Management LLC Has $314,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Avior Wealth Management LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the industrial products company’s stock after selling 64 shares during the quarter. Avior Wealth Management LLC’s holdings in Illinois Tool Works were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Illinois Tool Works by 5.0% in the 3rd 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. Northern Trust Corp raised its stake in Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after buying an additional 244,145 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after buying an additional 7,178,474 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after buying an additional 97,568 shares during the period. Finally, Geode Capital Management LLC raised its stake in Illinois Tool Works by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock worth $1,363,875,000 after buying an additional 607,321 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Barclays upped their price target on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Truist Financial initiated coverage on 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. Stifel Nicolaus upped their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price objective 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

ITW stock opened at $250.46 on Friday. The firm has a market cap of $74.82 billion, a PE ratio of 25.71, a P/E/G ratio of 3.66 and a beta of 1.13. 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 business has a 50 day moving average of $260.53 and a 200-day moving average of $250.79. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released 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 return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

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.