Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Kensington Investment Counsel LLC

Kensington Investment Counsel LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,468 shares of the industrial products company’s stock after selling 63 shares during the period. Kensington Investment Counsel LLC’s holdings in Illinois Tool Works were worth $1,386,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $28,000. True Wealth Design LLC increased its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $33,000. Hager Investment Management Services LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $37,000. Finally, Asset Planning Inc purchased a new position in Illinois Tool Works in the 4th quarter valued at about $40,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $256.17 on Tuesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $75.19 billion, a PE ratio of 21.86, a P/E/G ratio of 4.56 and a beta of 1.13. The company’s 50 day simple moving average is $257.95 and its 200 day simple moving average is $260.47.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of analyst reports. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $269.10.

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.