Tilt Investment Management Holdings PBC Has $290,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Tilt Investment Management Holdings PBC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,103 shares of the industrial products company’s stock after selling 368 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Illinois Tool Works were worth $290,000 at the end of the most recent quarter.

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

Illinois Tool Works Trading Down 0.4 %

ITW traded down $0.89 during trading on Thursday, reaching $248.65. 383,268 shares of the stock traded hands, compared to its average volume of 1,237,013. The stock’s 50-day moving average is $260.75 and its 200 day moving average is $250.66. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. 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 stock has a market capitalization of $74.28 billion, a PE ratio of 25.62, a P/E/G ratio of 3.69 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the firm posted $2.34 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced 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. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

Analyst Ratings Changes

A number of brokerages have recently commented on ITW. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Barclays upped their price target on shares of 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 shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Citigroup raised their target price 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. Four 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $257.00.

Insiders Place Their Bets

In other news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works 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 completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now 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 ninety days, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by company insiders.

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.