Birch Capital Management LLC Sells 117 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Birch Capital Management LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,922 shares of the industrial products company’s stock after selling 117 shares during the quarter. Birch Capital Management LLC’s holdings in Illinois Tool Works were worth $1,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Radnor Capital Management LLC lifted its stake in Illinois Tool Works by 0.7% in the fourth quarter. Radnor Capital Management LLC now owns 7,734 shares of the industrial products company’s stock valued at $1,577,000 after buying an additional 50 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Illinois Tool Works by 32.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 208 shares of the industrial products company’s stock valued at $42,000 after buying an additional 51 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in Illinois Tool Works by 2.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,560 shares of the industrial products company’s stock valued at $511,000 after buying an additional 51 shares in the last quarter. Palisade Asset Management LLC lifted its stake in Illinois Tool Works by 1.4% in the fourth quarter. Palisade Asset Management LLC now owns 3,867 shares of the industrial products company’s stock valued at $788,000 after buying an additional 54 shares in the last quarter. Finally, Equitable Holdings Inc. lifted its stake in Illinois Tool Works by 3.8% in the fourth quarter. Equitable Holdings Inc. now owns 1,469 shares of the industrial products company’s stock valued at $299,000 after buying an additional 54 shares in the last quarter. 77.44% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the company’s stock in a transaction dated Thursday, February 11th. The stock was sold at an average price of $205.37, for a total transaction of $252,810.47. Following the sale, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Shares of Illinois Tool Works stock traded down $1.51 during trading on Thursday, reaching $218.44. The company’s stock had a trading volume of 6,362 shares, compared to its average volume of 1,133,616. The business’s 50-day moving average price is $213.43 and its 200-day moving average price is $205.68. The firm has a market cap of $69.13 billion, a PE ratio of 33.33, a P/E/G ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a 52 week low of $148.27 and a 52 week high of $228.77. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.23. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. Illinois Tool Works’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 6.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st will be given a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.09%. Illinois Tool Works’s payout ratio is presently 58.84%.

A number of research firms have recently issued reports on ITW. The Goldman Sachs Group upgraded shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $195.00 to $217.00 in a report on Tuesday, January 19th. Morgan Stanley lifted their price objective on shares of Illinois Tool Works from $176.00 to $180.00 and gave the company an “underweight” rating in a report on Monday, February 8th. Robert W. Baird reiterated a “hold” rating on shares of Illinois Tool Works in a report on Tuesday, February 23rd. UBS Group upgraded shares of Illinois Tool Works from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $211.00 to $232.00 in a report on Monday, January 4th. Finally, Vertical Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $204.41.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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