Monument Capital Management Trims Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Monument Capital Management trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,024 shares of the industrial products company’s stock after selling 127 shares during the period. Monument Capital Management’s holdings in Illinois Tool Works were worth $530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after buying an additional 675,000 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after buying an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Illinois Tool Works by 77.5% in the third quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock valued at $137,538,000 after buying an additional 260,679 shares during the last quarter. Finally, Barclays PLC lifted its stake in Illinois Tool Works by 57.1% in the third quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock valued at $161,131,000 after buying an additional 254,321 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ITW shares. Truist Financial started coverage on Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Stifel Nicolaus lifted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Barclays boosted their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $257.00.

Illinois Tool Works Stock Down 0.2 %

ITW stock opened at $250.00 on Tuesday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The stock has a market capitalization of $74.69 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.68 and a beta of 1.13. The business has a 50-day moving average of $260.40 and a 200-day moving average of $251.19. 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 issued its quarterly 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 firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Insider Activity at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s 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 completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s 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 completion of the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Insiders own 1.26% 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.