Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,585 shares of the industrial products company’s stock after selling 295 shares during the period. Larson Financial Group LLC’s holdings in Illinois Tool Works were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% during the third 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 in the last quarter. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $37,000. Finally, Asset Planning Inc acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $40,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 2.6 %

Shares of NYSE:ITW opened at $267.47 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The company has a fifty day simple moving average of $257.80 and a 200 day simple moving average of $260.30. The firm has a market cap of $78.50 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

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

Illinois Tool Works Announces Dividend

The firm 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated 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 sale, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ITW. Citigroup reduced their price target on shares of 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. Evercore ISI dropped 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 note on Wednesday, February 19th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $269.10.

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.