Illinois Tool Works Inc. (NYSE:ITW) Chairman Sells $12,722,000.00 in Stock

Illinois Tool Works Inc. (NYSE:ITWGet Free Report) Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction 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 transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 Price Performance

ITW stock opened at $255.71 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The firm has a market capitalization of $76.94 billion, a P/E ratio of 26.25, a P/E/G ratio of 4.36 and a beta of 1.15. The business’s 50-day moving average is $256.70 and its two-hundred day moving average is $244.29. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $267.12.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion for 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 for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be given a $1.40 dividend. 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%.

Institutional Investors Weigh In On Illinois Tool Works

A number of hedge funds have recently bought and sold shares of ITW. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after acquiring an additional 1,238,239 shares in the last quarter. Northern Trust Corp raised its position in shares of Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after acquiring an additional 244,145 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after acquiring an additional 7,178,474 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after acquiring an additional 97,568 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Illinois Tool Works by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 5,780,294 shares of the industrial products company’s stock worth $1,443,003,000 after acquiring an additional 168,563 shares in the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITW. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Stifel Nicolaus increased their price target on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays raised their target price on Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Monday, February 5th. Finally, Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $277.00 to $240.00 in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $239.33.

View Our Latest Stock Analysis on Illinois Tool Works

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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