Illinois Tool Works Inc. (NYSE:ITW) CEO Christopher A. O’herlihy Sells 48,453 Shares of Stock

Illinois Tool Works Inc. (NYSE:ITW) CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Illinois Tool Works Stock Down 4.7 %

Illinois Tool Works stock opened at $255.05 on Wednesday. The firm has a market cap of $74.86 billion, a PE ratio of 21.76, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm’s 50 day moving average price is $257.83 and its two-hundred day moving average price is $260.36. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve 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 earnings per share for the quarter, beating 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%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.35%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $269.10.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $28,000. Finally, Glass Jacobson Investment Advisors llc grew its position in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

About Illinois Tool Works

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.