Lathrop Investment Management Corp Sells 1,016 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Lathrop Investment Management Corp lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,246 shares of the industrial products company’s stock after selling 1,016 shares during the quarter. Illinois Tool Works accounts for approximately 3.5% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 9th biggest position. Lathrop Investment Management Corp’s holdings in Illinois Tool Works were worth $17,091,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ITW. Vanguard Group Inc. raised its position in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its position in shares of Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after acquiring an additional 675,000 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Illinois Tool Works by 23,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock worth $82,579,000 after acquiring an additional 313,906 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Illinois Tool Works by 77.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock worth $137,538,000 after acquiring an additional 260,679 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Illinois Tool Works by 57.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several research analyst reports. Citigroup lifted their price objective 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. Barclays boosted their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial began coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four equities research 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, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $257.00.

Insider Activity at Illinois Tool Works

In related news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,471 shares of company stock worth $48,712,316. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded up $0.12 during midday trading on Friday, reaching $248.28. The company’s stock had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The firm has a 50 day moving average price of $260.04 and a 200-day moving average price of $251.37. The stock has a market capitalization of $74.17 billion, a P/E ratio of 25.49, a PEG ratio of 3.65 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.12 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. Investors of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.26%. Illinois Tool Works’s payout ratio 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.