Ernest Scott Santi Sells 50,000 Shares of Illinois Tool Works Inc. (NYSE:ITW) Stock

Illinois Tool Works Inc. (NYSE:ITWGet Free Report) Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ernest Scott Santi also recently made the following trade(s):

  • On Friday, February 2nd, Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00.

Illinois Tool Works Stock Up 0.5 %

Shares of NYSE:ITW opened at $255.71 on Friday. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $267.12. The stock has a market cap of $76.94 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 4.36 and a beta of 1.15. The business’s 50 day moving average is $256.70 and its 200 day moving average is $244.29. 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:ITWGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.19%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ITW shares. Barclays boosted their price objective on Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Monday, February 5th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Citigroup upped their target price on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Stifel Nicolaus upped their target price on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $239.33.

Get Our Latest Research Report on Illinois Tool Works

Institutional Trading of Illinois Tool Works

Hedge funds have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $28,000. Northwest Capital Management Inc purchased a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $28,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 79.56% of the company’s stock.

About Illinois Tool Works

(Get Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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