Geneos Wealth Management Inc. Sells 506 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Geneos Wealth Management Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 20.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,027 shares of the industrial products company’s stock after selling 506 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Illinois Tool Works were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $26,000. Briaud Financial Planning Inc bought a new position in Illinois Tool Works in the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC bought a new position in Illinois Tool Works in the 4th quarter worth $29,000. Quarry LP boosted its holdings in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after buying an additional 49 shares during the period. Finally, Arlington Trust Co LLC bought a new position in Illinois Tool Works in the 3rd quarter worth $38,000. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of several recent analyst reports. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays increased their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $254.78.

Insider Buying and Selling

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 sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s 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 transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the 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 in the company, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 in the last ninety days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Down 1.6 %

Shares of NYSE ITW opened at $253.51 on Friday. The firm’s 50-day moving average price is $260.94 and its 200-day moving average price is $250.10. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $75.73 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 3.79 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

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.