Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 54.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,266 shares of the industrial products company’s stock after selling 2,676 shares during the quarter. Sigma Planning Corp’s holdings in Illinois Tool Works were worth $594,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC grew its holdings in shares of Illinois Tool Works by 2.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 41 shares during the period. Nicolet Advisory Services LLC lifted its position in Illinois Tool Works by 4.5% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 46 shares in the last quarter. PFG Advisors lifted its position in Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in Illinois Tool Works by 1.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 46 shares in the last quarter. Finally, Mcdonald Partners LLC lifted its position in Illinois Tool Works by 1.0% during the 3rd quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock worth $1,104,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s 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 in the company, valued at approximately $2,273,292.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ITW. Citigroup boosted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Truist Financial began coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Stifel Nicolaus upped their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $257.00.

Illinois Tool Works Stock Performance

ITW stock opened at $251.71 on Thursday. 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 cap of $75.20 billion, a P/E ratio of 25.84, a P/E/G 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 stock’s 50 day simple moving average is $260.33 and its 200 day simple moving average is $251.30.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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 business had revenue of $3.98 billion for 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%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.22%. Illinois Tool Works’s payout ratio is currently 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.