Carret Asset Management LLC Sells 89 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Carret Asset Management LLC decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,957 shares of the industrial products company’s stock after selling 89 shares during the period. Carret Asset Management LLC’s holdings in Illinois Tool Works were worth $3,394,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares in the last quarter. Northern Trust Corp raised its stake in Illinois Tool Works by 1.9% in the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after buying an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Illinois Tool Works by 1.4% in the third 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 buying an additional 97,568 shares in the last quarter. Stifel Financial Corp raised its stake in Illinois Tool Works by 1.3% in the third quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after buying an additional 22,238 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its position in shares of Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after purchasing an additional 675,000 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent analyst reports. Barclays upped their price target 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. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target 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 set a “buy” rating and a $301.00 price target on the stock. Citigroup upped their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upped their price target 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. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $1.07 during mid-day trading on Wednesday, hitting $251.71. The company’s stock had a trading volume of 1,252,463 shares, compared to its average volume of 1,246,599. The business’s fifty day moving average is $260.38 and its two-hundred day moving average is $251.30. The stock has a market cap of $75.20 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. 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 issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.34 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 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. 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 dividend on an annualized basis and a dividend yield of 2.22%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 $2,273,292.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. Company insiders own 1.26% of the company’s stock.

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.