Insider Selling: Illinois Tool Works Inc. (NYSE:ITW) Director Sells 70,000 Shares of Stock

Illinois Tool Works Inc. (NYSE:ITW) Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Illinois Tool Works Trading Down 0.5 %

Shares of Illinois Tool Works stock opened at $264.30 on Friday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve 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 business has a 50-day moving average price of $257.08 and a 200-day moving average price of $258.29. The firm has a market cap of $77.57 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11.

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 (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%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a report on Wednesday. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two 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 data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

Hedge Funds Weigh In On Illinois Tool Works

Institutional investors and hedge funds have recently made changes to their positions in the business. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc lifted its stake in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings 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 worth $30,000 after purchasing an additional 106 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

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.