Schechter Investment Advisors LLC Sells 70 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Schechter Investment Advisors LLC trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,096 shares of the industrial products company’s stock after selling 70 shares during the period. Schechter Investment Advisors LLC’s holdings in Illinois Tool Works were worth $811,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITW. Briaud Financial Planning Inc bought a new stake in Illinois Tool Works in the third quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at $29,000. Quarry LP grew its position in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 49 shares during the period. Arlington Trust Co LLC bought a new stake in Illinois Tool Works in the third quarter valued at $38,000. Finally, Union Savings Bank bought a new stake in shares of Illinois Tool Works during the second quarter worth $39,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Truist Financial began coverage on Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays raised their price target on Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Monday, February 5th. Finally, Citigroup raised their price target on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $245.50.

Insider Buying and Selling

In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 1.0 %

NYSE ITW opened at $268.26 on Thursday. The firm has a market cap of $80.14 billion, a P/E ratio of 27.54, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The stock’s 50-day moving average is $259.83 and its 200-day moving average is $247.89. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.09%. Illinois Tool Works’s payout ratio is presently 57.49%.

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.