CreativeOne Wealth LLC Sells 3,735 Shares of Illinois Tool Works Inc. (NYSE:ITW)

CreativeOne Wealth LLC reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 64.7% during the fourth quarter, HoldingsChannel.com reports. The fund 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.

Other hedge funds have also bought and sold shares of the company. Baron Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after buying an additional 39 shares during the last quarter. F M Investments LLC increased its position in shares of Illinois Tool Works by 4.9% in the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 42 shares during the period. Harbour Investments Inc. raised its stake in Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after acquiring an additional 46 shares during the period. Finally, Valmark Advisers Inc. grew its stake in Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.4 %

ITW stock opened at $230.68 on Friday. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $67.67 billion, a P/E ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. The company’s 50-day simple moving average is $249.80 and its 200-day simple moving average is $257.91.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.60%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Barclays reduced their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Citigroup dropped their price objective on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $260.09.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 in the last 90 days. Insiders own 0.88% 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.