Windle Wealth LLC Purchases 693 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Windle Wealth LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,786 shares of the industrial products company’s stock after purchasing an additional 693 shares during the period. Illinois Tool Works comprises 3.8% of Windle Wealth LLC’s investment portfolio, making the stock its 16th biggest position. Windle Wealth LLC’s holdings in Illinois Tool Works were worth $6,792,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth $33,000. Hager Investment Management Services LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth about $37,000. Finally, Asset Planning Inc bought a new stake in Illinois Tool Works in the 4th quarter valued at about $40,000. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ITW shares. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Evercore ISI decreased their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.10.

Insider Activity

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 4.7 %

Shares of ITW opened at $255.05 on Wednesday. The stock has a market capitalization of $74.86 billion, a P/E ratio of 21.76, a PEG ratio of 4.56 and a beta of 1.13. The firm has a fifty day simple moving average of $257.83 and a two-hundred day simple moving average of $260.36. 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 Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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 anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

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.