Sigma Planning Corp Has $594,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Sigma Planning Corp lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 54.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,266 shares of the industrial products company’s stock after selling 2,676 shares during the quarter. Sigma Planning Corp’s holdings in Illinois Tool Works were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Summit Global Investments grew its holdings in Illinois Tool Works by 13.8% in the 3rd quarter. Summit Global Investments now owns 1,115 shares of the industrial products company’s stock valued at $257,000 after buying an additional 135 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in Illinois Tool Works by 5.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,666 shares of the industrial products company’s stock valued at $384,000 after buying an additional 87 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Illinois Tool Works by 0.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 24,927 shares of the industrial products company’s stock valued at $5,743,000 after buying an additional 197 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Illinois Tool Works by 59.4% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 604 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 225 shares during the period. Finally, Meridian Wealth Management LLC lifted its position in shares of Illinois Tool Works by 108.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 5,626 shares of the industrial products company’s stock worth $1,296,000 after acquiring an additional 2,925 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial initiated coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Barclays raised their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the sale, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction 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 completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $251.71 on Thursday. 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 company has a market capitalization of $75.20 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.68 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The business has a 50 day simple moving average of $260.33 and a 200 day simple moving average of $251.30.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.22%. Illinois Tool Works’s payout ratio is 57.49%.

Illinois Tool Works 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.