Saturna Capital Corp Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Saturna Capital Corp lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,124 shares of the industrial products company’s stock after selling 50 shares during the quarter. Saturna Capital Corp owned approximately 0.10% of Illinois Tool Works worth $78,128,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in Illinois Tool Works by 6.4% in the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 114 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Illinois Tool Works by 16.6% in the 3rd quarter. Covestor Ltd now owns 366 shares of the industrial products company’s stock valued at $96,000 after buying an additional 52 shares in the last quarter. Sigma Planning Corp grew its position in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $112,000. Finally, Wolverine Asset Management LLC purchased a new stake in Illinois Tool Works in the third quarter valued at $1,179,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $255.05 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market cap of $74.86 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The business has a fifty day moving average of $257.83 and a two-hundred day moving average of $260.36.

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%. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. 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%.

Analysts Set New Price Targets

Several brokerages have issued reports on ITW. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus dropped their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a research note on Monday. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $269.10.

Insiders Place Their Bets

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were 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 in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

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.