White Pine Capital LLC Has $1.79 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

White Pine Capital LLC lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,836 shares of the industrial products company’s stock after selling 715 shares during the period. White Pine Capital LLC’s holdings in Illinois Tool Works were worth $1,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITW. Briaud Financial Planning Inc acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded up $0.12 during trading hours on Friday, hitting $248.28. 947,179 shares of the stock were exchanged, compared to its average volume of 1,023,968. 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 stock has a market capitalization of $74.17 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 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. The business’s 50-day moving average is $260.04 and its two-hundred day moving average is $251.37.

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, topping analysts’ consensus estimates 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 analyst estimates of $4.01 billion. During the same period in the prior year, the business earned $2.34 earnings per share. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.26%. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Analyst Ratings Changes

ITW has been the subject of several analyst reports. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Citigroup boosted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $257.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on 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 sale, the chief accounting officer now directly owns 8,870 shares in the company, valued at $2,273,292.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction on 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 sale, the chief accounting officer now directly 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. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last ninety days. Company insiders own 0.88% 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.