CreativeOne Wealth LLC Trims Stake in Illinois Tool Works Inc. (NYSE:ITW)

CreativeOne Wealth LLC cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,039 shares of the industrial products company's stock after selling 3,735 shares during the quarter. CreativeOne Wealth LLC's holdings in Illinois Tool Works were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITW. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc grew its position in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after buying an additional 84 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $31,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 1.9 %

ITW stock traded up $4.40 during midday trading on Thursday, reaching $241.10. 311,613 shares of the company's stock traded hands, compared to its average volume of 1,139,229. The company has a market cap of $70.73 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The firm's fifty day moving average price is $248.35 and its 200-day moving average price is $257.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a report on Monday, April 14th. Citigroup decreased their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, UBS Group cut their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and a consensus price target of $260.09.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last three months. Company insiders own 0.88% of the company's stock.

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.