Donaldson Capital Management LLC Sells 1,214 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Donaldson Capital Management LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 53.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,044 shares of the industrial products company’s stock after selling 1,214 shares during the period. Donaldson Capital Management LLC’s holdings in Illinois Tool Works were worth $265,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $33,000. Hager Investment Management Services LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $37,000. Finally, Asset Planning Inc bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $40,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 4.7 %

ITW stock opened at $255.05 on Wednesday. The stock’s 50 day simple moving average is $257.83 and its 200 day simple moving average is $260.36. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company has a market cap of $74.86 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus cut their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Evercore ISI cut their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $269.10.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last ninety days. 0.88% of the stock is currently owned by 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.