Cassady Schiller Wealth Management LLC Has $2.89 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Cassady Schiller Wealth Management LLC reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,414 shares of the industrial products company’s stock after selling 192 shares during the quarter. Illinois Tool Works accounts for about 1.1% of Cassady Schiller Wealth Management LLC’s holdings, making the stock its 20th biggest position. Cassady Schiller Wealth Management LLC’s holdings in Illinois Tool Works were worth $2,894,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $28,000. True Wealth Design LLC grew its holdings in shares of 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 during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $33,000. Hager Investment Management Services LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $37,000. Finally, Asset Planning Inc bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $40,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ITW shares. JPMorgan Chase & Co. dropped 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. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research report on Monday, March 10th. 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 research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Evercore ISI dropped their price target 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 investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued 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 an average target price of $269.10.

Insider Activity

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 over the last quarter. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $254.72 on Monday. The company’s 50 day moving average is $257.83 and its 200-day moving average is $260.43. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $74.76 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts predict 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. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Illinois Tool Works 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.