Sound Financial Strategies Group LLC Sells 1,416 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Sound Financial Strategies Group LLC lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,448 shares of the industrial products company’s stock after selling 1,416 shares during the period. Illinois Tool Works makes up approximately 0.5% of Sound Financial Strategies Group LLC’s investment portfolio, making the stock its 21st biggest holding. Sound Financial Strategies Group LLC’s holdings in Illinois Tool Works were worth $641,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITW. Cornerstone Wealth Management LLC raised its position in shares of Illinois Tool Works by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 41 shares during the period. Nicolet Advisory Services LLC raised its position in shares of Illinois Tool Works by 4.5% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 46 shares during the last quarter. PFG Advisors raised its position in shares of Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 46 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of Illinois Tool Works by 1.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 46 shares during the last quarter. Finally, Mcdonald Partners LLC raised its position in shares of Illinois Tool Works by 1.0% during the 3rd quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock worth $1,104,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. 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. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Trading Up 0.4 %

Shares of Illinois Tool Works stock traded up $1.07 during mid-day trading on Wednesday, hitting $251.71. The stock had a trading volume of 1,252,463 shares, compared to its average volume of 1,246,599. The firm has a 50-day moving average of $260.33 and a two-hundred day moving average of $251.30. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The firm has a market cap of $75.20 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating 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 business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given 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 2.22%. Illinois Tool Works’s payout ratio is currently 57.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ITW. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Bank of America cut 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 research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $257.00.

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.