Schechter Investment Advisors LLC Trims Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Schechter Investment Advisors LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,096 shares of the industrial products company’s stock after selling 70 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Illinois Tool Works were worth $811,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new position in Illinois Tool Works in the third quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $29,000. Quarry LP lifted its stake in shares of Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 49 shares during the period. Union Savings Bank bought a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $39,000. Finally, Arlington Trust Co LLC purchased a new stake in Illinois Tool Works in the third quarter worth $38,000. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related 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 value of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the company’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 transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock worth $48,712,316 in the last ninety days. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $268.26 on Thursday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The firm has a market cap of $80.14 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business has a 50-day simple moving average of $259.83 and a two-hundred day simple moving average of $247.89. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating 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 firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company earned $2.34 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.09%. Illinois Tool Works’s payout ratio is 57.49%.

Analysts Set New Price Targets

ITW has been the subject of several recent research reports. Truist Financial assumed coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Monday, February 5th. Citigroup raised their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $245.50.

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.