Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Aull & Monroe Investment Management Corp

Aull & Monroe Investment Management Corp cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 8,638 shares of the industrial products company’s stock after selling 50 shares during the period. Illinois Tool Works comprises 1.1% of Aull & Monroe Investment Management Corp’s portfolio, making the stock its 29th largest position. Aull & Monroe Investment Management Corp’s holdings in Illinois Tool Works were worth $2,190,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Candriam S.C.A. increased its position in Illinois Tool Works by 5.6% in the 4th quarter. Candriam S.C.A. now owns 43,995 shares of the industrial products company’s stock valued at $11,155,000 after acquiring an additional 2,324 shares during the period. Schrum Private Wealth Management LLC bought a new position in Illinois Tool Works during the 4th quarter valued at $431,000. Freestone Capital Holdings LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $243,000. Raymond James Financial Inc. bought a new position in Illinois Tool Works during the fourth quarter valued at about $203,949,000. Finally, Cullen Frost Bankers Inc. raised its position in Illinois Tool Works by 3.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 10,208 shares of the industrial products company’s stock worth $2,588,000 after acquiring an additional 332 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on 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 approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. 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 report on Wednesday, February 19th. Barclays cut their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Up 2.3 %

NYSE:ITW opened at $261.14 on Thursday. The stock’s fifty day simple moving average is $257.05 and its 200-day simple moving average is $259.68. The firm has a market capitalization of $76.65 billion, a P/E ratio of 22.28, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. 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, 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%. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed 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 2.30%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 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.