Foster & Motley Inc. Has $1.06 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Foster & Motley Inc. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,043 shares of the industrial products company’s stock after selling 175 shares during the period. Foster & Motley Inc.’s holdings in Illinois Tool Works were worth $1,059,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Rockline Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $4,180,000. Wesbanco Bank Inc. grew its stake in shares of Illinois Tool Works by 23.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 1,152 shares in the last quarter. Ziegler Capital Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $224,000. DNB Asset Management AS boosted its holdings in Illinois Tool Works by 8.0% during the fourth quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after purchasing an additional 10,062 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Illinois Tool Works in the 4th quarter worth about $2,972,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $250.64 on Wednesday. The business has a 50 day moving average of $260.38 and a 200 day moving average of $251.30. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15. The company has a market cap of $74.88 billion, a PE ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $2.34 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ITW shares. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Stifel Nicolaus raised their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial started coverage on Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Barclays boosted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $257.00.

Insider Transactions at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 1.26% of the company’s stock.

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.