Illinois Tool Works Inc. (NYSE:ITW) CFO Michael M. Larsen Sells 41,472 Shares

Illinois Tool Works Inc. (NYSE:ITW) CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $255.05 on Wednesday. The firm has a fifty day simple moving average of $257.83 and a two-hundred day simple moving average of $260.36. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a market capitalization of $74.86 billion, a PE ratio of 21.76, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $269.10.

Institutional Trading of Illinois Tool Works

Institutional investors have recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $26,000. Redwood Park Advisors LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $26,000. Glass Jacobson Investment Advisors llc raised its stake in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $28,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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.