Saturday, June 25, 2022

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Illinois Tool Works Inc. [ITW] Executive Vice President makes an insider sale of 1,000 shares worth 205,340.


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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Illinois Tool Works Inc. shares valued at $205,340 were sold by Schlitz Lei Zhang on May 11. At $205.34 per share, Schlitz Lei Zhang sold 1,000 shares. The insider’s holdings dropped to 7,803 shares worth approximately $1.42 million following the completion of this transaction.

Also, SANTI ERNEST SCOTT sold 148,789 shares, netting a total of over 34,435,379 in proceeds. Following the sale of shares at $231.44 each, the insider now holds 203,032 shares.

Before that, Schlitz Lei Zhang had sold 8,800 shares from its account. In a trade valued at $2,122,208, the Executive Vice President traded Illinois Tool Works Inc. shares for $241.16 each. Upon closing the transaction, the insider’s holdings decreased to 8,800 shares, worth approximately $1.31 million.

As published in a research note from JP Morgan on March 28, 2022, Illinois Tool Works Inc. [ITW] has been rated up from a Neutral to an Overweight and the price target has been revised to $255 from $262. This represents a 28.87% premium over Wednesday’s closing price. Analysts at Wells Fargo resumed the stock at ‘”an Equal weight”‘ outlook in a report released in late October. As of October 29, 2021, Deutsche Bank has reiterated its “Hold” rating for ITW. Earlier on October 29, 2021, Credit Suisse resumed its rating. Their recommendation was “an Outperform” for ITW stock.

Analyzing ITW’s Price Performance

On Wednesday, Illinois Tool Works Inc. [NYSE: ITW] rose 0.06% to $181.38. The stock’s lowest price that day was $178.48, but it reached a high of $182.70 in the same session. During the last five days, there has been a drop of approximately -2.45%. Over the course of the year, Illinois Tool Works Inc. shares have dropped approximately -26.51%. Shares of the company reached a 52-week high of $249.81 on 01/05/22 and a 52-week low of $177.33 on 06/17/22. A 50-day SMA is recorded $201.26, while a 200-day SMA reached $219.79. Nevertheless, trading volume fell to 1.02 million shares from 1.03 million shares the previous day.

Support And Resistance Levels for Illinois Tool Works Inc. (ITW)

According to the 24-hour chart, there is a support level at 179.01, which, if violated, would cause prices to drop to 176.63. In the upper region, resistance lies at 183.23. The next price resistance is at 185.07. RSI (Relative Strength Index) is 30.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -14.19, which suggests the price will decrease in the coming days. Percent R is at 87.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Illinois Tool Works Inc. (ITW)?

According to Briar Hall Management LLC filings, the company currently owns 25,831,684 shares, which is about 8.29% of the total ITW shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 25831684.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $5,087,542,458. State Farm Investment Management reduced a 0.00% interest valued at $4.38 billion while BlackRock Fund Advisors purchased a 97,059 stake. A total of -39,622 shares of Illinois Tool Works Inc. were bought by Northern Trust Investments, Inc. during the quarter, and -399,177 were sold by SSgA Funds Management, Inc. In its current portfolio, Massachusetts Financial Services holds 6,720,484 shares valued at $1.4 billion.

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