Lindbrook Capital LLC Sells 1,509 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Lindbrook Capital LLC lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 53.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,301 shares of the industrial products company’s stock after selling 1,509 shares during the quarter. Lindbrook Capital LLC’s holdings in Illinois Tool Works were worth $341,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ITW. Briaud Financial Planning Inc bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Illinois Tool Works in the 4th quarter valued at $26,000. Financial Connections Group Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth $28,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at about $29,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $250.46 on Monday. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The company’s 50-day moving average is $260.53 and its 200 day moving average is $251.07. The firm has a market capitalization of $74.82 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping 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 company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm posted $2.34 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid 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 2.24%. Illinois Tool Works’s payout ratio is 57.49%.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last quarter. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial started coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Barclays upped their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price 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.