Veracity Capital LLC Sells 64 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Veracity Capital LLC reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 891 shares of the industrial products company’s stock after selling 64 shares during the quarter. Veracity Capital LLC’s holdings in Illinois Tool Works were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Briaud Financial Planning Inc purchased a new position in Illinois Tool Works in the third quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $29,000. Quarry LP grew its holdings in shares of Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after buying an additional 49 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Illinois Tool Works during the third quarter valued at $38,000. Finally, Union Savings Bank purchased a new stake in shares of Illinois Tool Works during the second quarter valued at $39,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction 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 approximately $2,273,292.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 transaction 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 approximately $2,273,292.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. 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 Price Performance

Shares of Illinois Tool Works stock traded up $0.34 during trading hours on Tuesday, reaching $265.57. The stock had a trading volume of 72,251 shares, compared to its average volume of 1,271,540. The stock’s 50 day moving average is $260.91 and its 200 day moving average is $248.71. The firm has a market capitalization of $79.34 billion, a PE ratio of 27.23, a PEG ratio of 4.61 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

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. Equities analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, March 29th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ITW. Citigroup boosted their price objective on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Monday, February 5th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Finally, Truist Financial assumed coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $245.50.

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.