John G Ullman & Associates Inc. Sells 200 Shares of Illinois Tool Works Inc. (NYSE:ITW)

John G Ullman & Associates Inc. trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,200 shares of the industrial products company’s stock after selling 200 shares during the period. John G Ullman & Associates Inc.’s holdings in Illinois Tool Works were worth $558,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Nixon Peabody Trust Co. increased its position in shares of Illinois Tool Works by 3.8% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,228 shares of the industrial products company’s stock worth $818,000 after purchasing an additional 118 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after purchasing an additional 95,925 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $1,509,000. Argyle Capital Management LLC grew its position in Illinois Tool Works by 12.4% during the fourth quarter. Argyle Capital Management LLC now owns 2,490 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 275 shares during the last quarter. Finally, Shoker Investment Counsel Inc. grew its position in Illinois Tool Works by 1.2% during the fourth quarter. Shoker Investment Counsel Inc. now owns 9,935 shares of the industrial products company’s stock valued at $2,519,000 after acquiring an additional 113 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $263.99 on Friday. The stock has a fifty day moving average of $257.00 and a 200 day moving average of $259.28. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $77.48 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 4.56 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Barclays reduced their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Evercore ISI dropped their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $269.30.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

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.