Valmark Advisers Inc. Has $2.37 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Valmark Advisers Inc. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,042 shares of the industrial products company’s stock after selling 454 shares during the quarter. Valmark Advisers Inc.’s holdings in Illinois Tool Works were worth $2,368,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Citizens Financial Group Inc. RI lifted its stake in shares of Illinois Tool Works by 139.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,123 shares of the industrial products company’s stock valued at $818,000 after purchasing an additional 1,820 shares during the period. Kovack Advisors Inc. raised its stake in Illinois Tool Works by 25.3% during the 4th quarter. Kovack Advisors Inc. now owns 1,588 shares of the industrial products company’s stock worth $416,000 after buying an additional 321 shares during the period. Bryn Mawr Capital Management LLC raised its stake in Illinois Tool Works by 60.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 5,245 shares of the industrial products company’s stock worth $1,374,000 after buying an additional 1,970 shares during the period. Semanteon Capital Management LP acquired a new stake in Illinois Tool Works during the 4th quarter worth $305,000. Finally, Gould Asset Management LLC CA acquired a new stake in Illinois Tool Works during the 4th quarter worth $209,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ITW. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Barclays increased their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Truist Financial initiated coverage on Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued 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, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at $2,273,292.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the business’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 sale, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 over the last three months. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Up 0.0 %

Shares of NYSE ITW traded up $0.12 during mid-day trading on Friday, hitting $248.28. The company had a trading volume of 947,179 shares, compared to its average volume of 1,023,968. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The company has a market capitalization of $74.17 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. The firm has a 50-day simple moving average of $260.04 and a two-hundred day simple moving average of $251.37. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last issued its 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. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business posted $2.34 EPS. Illinois Tool Works’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

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 was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) 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.