Donaldson Capital Management LLC Sells 628 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Donaldson Capital Management LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,170 shares of the industrial products company’s stock after selling 628 shares during the period. Donaldson Capital Management LLC’s holdings in Illinois Tool Works were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITW. Briaud Financial Planning Inc bought a new position in Illinois Tool Works during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Bruce G. Allen Investments LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Finally, Quarry LP lifted its holdings in shares of Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial assumed coverage on Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup upped their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus upped their target price on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $254.78.

Insider Activity

In other news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael M. Larsen sold 37,167 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,321,252.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,471 shares of company stock valued at $48,712,316. 1.26% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

NYSE ITW traded down $0.79 during trading on Tuesday, reaching $253.04. 131,530 shares of the company’s stock were exchanged, compared to its average volume of 1,241,198. The business has a 50 day moving average price of $260.93 and a 200-day moving average price of $250.52. The stock has a market capitalization of $75.59 billion, a P/E ratio of 26.07, a PEG ratio of 3.73 and a beta of 1.13. 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 Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

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.