NTV Asset Management LLC Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

NTV Asset Management LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,260 shares of the industrial products company’s stock after selling 150 shares during the quarter. NTV Asset Management LLC’s holdings in Illinois Tool Works were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new stake in Illinois Tool Works during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at $26,000. Financial Connections Group Inc. acquired a new stake in Illinois Tool Works during the 4th quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $29,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the sale, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on Monday, February 12th. The shares were 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 $2,273,292.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,471 shares of company stock valued at $35,970,816. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 0.8 %

ITW traded up $1.88 during mid-day trading on Friday, hitting $243.92. 929,954 shares of the stock were exchanged, compared to its average volume of 1,218,462. The company has a market cap of $72.87 billion, a PE ratio of 24.06, a PEG ratio of 3.57 and a beta of 1.14. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 2.07. The firm’s fifty day moving average is $258.75 and its two-hundred day moving average is $252.03. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. Equities analysts forecast that Illinois Tool Works Inc. will post 10.29 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is presently 55.23%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITW shares. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lowered their price target on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Bank of America cut shares of 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 research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $257.78.

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.