Insider Selling: Illinois Tool Works Inc. (ITW) Insider Sells 30,000 Shares of Stock

Illinois Tool Works Inc. (NYSE:ITW) insider Harold B. Smith sold 30,000 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Illinois Tool Works Inc. (NYSE:ITW) traded down $1.46 during trading hours on Tuesday, reaching $165.03. The company’s stock had a trading volume of 1,844,500 shares, compared to its average volume of 1,208,158. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. Illinois Tool Works Inc. has a one year low of $120.06 and a one year high of $169.69. The stock has a market capitalization of $56,150.00, a price-to-earnings ratio of 26.43, a PEG ratio of 2.49 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $1.50 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. research analysts predict that Illinois Tool Works Inc. will post 6.7 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.85%.

A number of large investors have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC increased its position in shares of Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2 shares during the last quarter. Private Vista LLC increased its position in shares of Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares during the last quarter. Harding Loevner LP purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP increased its position in shares of Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its position in shares of Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares during the last quarter. 74.83% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on ITW. Argus restated a “buy” rating and set a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. BMO Capital Markets raised their price objective on Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Credit Suisse Group decreased their price objective on Illinois Tool Works from $142.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. Finally, Citigroup restated a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $164.38.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Insider Buying and Selling by Quarter for Illinois Tool Works (NYSE:ITW)

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