Hamel Associates Inc. Cuts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Hamel Associates Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,945 shares of the industrial products company’s stock after selling 375 shares during the period. Illinois Tool Works makes up about 2.4% of Hamel Associates Inc.’s investment portfolio, making the stock its 14th largest position. Hamel Associates Inc.’s holdings in Illinois Tool Works were worth $7,593,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $263.99 on Friday. The company has a market cap of $77.48 billion, a PE ratio of 22.52, a P/E/G ratio of 4.56 and a beta of 1.11. The company has a fifty day moving average price of $257.00 and a two-hundred day moving average price of $259.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

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

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction 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 completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.26% of the stock is currently owned by corporate insiders.

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.