Regent Peak Wealth Advisors LLC Sells 6,055 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Regent Peak Wealth Advisors LLC trimmed its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 65.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,161 shares of the industrial products company's stock after selling 6,055 shares during the period. Regent Peak Wealth Advisors LLC's holdings in Illinois Tool Works were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the 2nd quarter worth about $30,000. True Wealth Design LLC lifted its position in 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 worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $1.57 on Tuesday, hitting $248.79. 685,393 shares of the company were exchanged, compared to its average volume of 772,773. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market capitalization of $73.47 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 4.22 and a beta of 1.11. The company's 50 day moving average price is $266.87 and its two-hundred day moving average price is $254.95. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.55 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Citigroup increased their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a "neutral" rating in a research note on Monday, December 9th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and upped their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $268.50.

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.